This paper provides the first ex post estimates of the effects of input controls on technical efficiency in a fishery. Using individual vessel data from the northern prawn fishery of Australia for the years 1990-1996 and 1994-2000, stochastic production frontiers are estimated to analyse the...

The causes of overfishing are reviewed along with deficiencies in top-down input-regulated fisheries management. An alternative is the three pillars of fisheries policy intended to ensure sustainable, economically viable fisheries and marine ecosystems. The first pillar are incentives that...

Using energy data over the period 1981–2011 we find that US biofuels subsidies and production have provided a perverse incentive for US fossil fuel producers to increase their rate of extraction that has generated a weak green paradox. Further, in the short-run if the reduction in the CO2...

Using data from what was once one of the world’s largest capture fisheries, the northern cod fishery, the economic value of a marine reserve is calculated using a stochastic optimal control model with a jump-diffusion process. Counterfactual analysis shows that with a stochastic environment an...

The paper estimates an aggregate daily water demand for Sydney using rainfall, temperature, and price data from 2001 to 2005, and a dummy variable to account for reductions in demand following the introduction of water restrictions in October 2003. Analyses based on the estimated price...

This paper uses data from an actual fishery to construct a tractable, dynamic model to compare expected profit and its variance, optimal stock size, optimal harvest rate, and optimal fishing effort under different management regimes under uncertainty. The results provide a comparison of...

Marine capture fisheries face major and complex challenges: habitat degradation, poor economic returns, social hardships from depleted stocks, illegal fishing, and climate change, among others. The key factors that prevent the transition to sustainable fisheries are information failures,...

Unpredictable environmental fluctuations are a major problem in fisheries. To mitigate these uncertainties, reserves are advocated to help ensure population persistence, reduce population and harvest variance, provide a 'hedge' against management failures and increase resilience. Using recent...