Natural resources such as carbon, water, and fish are increasingly managed with markets that require an initial allocation of property rights. In practice these rights are typically grandfathered based on historical use, but rights could be allocated any number of ways. Taking the perspective of...

Foreword by The Honorable Vincent Meriton, former Vice-President of Seychelles --Introduction: The Blue Economy in Sub-Saharan Africa /Donald L. Sparks --Part I: Elements of the Blue Economy --Culture, Communities and Society /Thean Potgieter --Tourism, Ecosystems, Biodiversity and Threats...

This article develops and implements a Real Option approach to value renewable natural resources in the case of Marine Fisheries. The model includes two sources of uncertainty: the resource biomass and the price of fish, and it can be used by fisheries to optimally adapt their harvesting...