This paper provides a profit-maximizing model with vessel-level dolphin mortality limits for purse seiners harvesting tunas in the eastern tropical Pacific Ocean. The model analytically derives the shadow price (estimated economic value) for dolphin mortality, the fishing-fleet size, and the...

Considerable public funding is provided for research and development intended to improve the management and use of shared natural resources, such as water. In Australia the Land and Water Research and Development Corporation (LWRRDC) and Environment Australia are significant providers of such...

Stabilization of wool prices (which is partially achieved by the Wool Commission) may reduce the average annual net income (surplus) of growers and also of manufacturers of wool. The argument that the surplus of growers may be reduced is based upon Massell's extension of Oi's hypothesis. The...

This paper explores the way in which the stated willingness to pay for the conservation of Asian elephants in Sri Lanka varies with hypothetical variations in their abundance. To do that, it relies on results from a sample of residents of Colombo. The willingness to pay function is found to be...