Survey data from over 1,600 households in ten countries were used to analyse the determinants of residential water demand. Results show that in every country the price elasticity is negative and statistically significant. Households that do not have to pay for the water they use (volumetric...

Policy makers are confronted daily with uncertainty, especially in complex areas like biosecurity. One way to improve decision-making and reduce uncertainties is to collect more information. Information is costly – whether the value of improved decision-making justifies the cost is a...

A stochastic bio-economic model is constructed to analyse the effects of marine reserve ‘switching’ between a ‘no take’ area and a harvested area. The model accounts for both market and non-market values of the fishery. Estimated parameters from the red throat emperor fishery from the...

Marine protected areas (MPA) potentially offer a wide range of use and non-use benefits. These include critical habitat protection, conservation of marine biodiversity, recovery of threatened and endangered marine species, and increased biomass of targeted marine species. To assess whether such...

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