Non-Use Values and the Management of Transboundary Renewable Resources

Ida Ferrara and Paul Missios

MPRA Paper from University Library of Munich, Germany

Abstract: It has long been recognized in economics that individuals can derive benefits from a resource stock without directly or indirectly utilizing that resource. Such non-use values, including existence values and bequest values, however, are often ignored in models of resource management. In this paper, a simple, two-country model of the management of a renewable resource is developed in which at least one country has a non-economic interest in the conservation of the fish stock to examine the impact of such a non-use value on the end-of-period harvest and self-enforcing sharing rule. The model shows that this non-lucrative pursuit serves to decrease the total allowable catch for each period at the expense of the catch share of the more conservation-oriented country, a result is consistent with the September 1995 decision by NAFO ending the dispute between Canada and the European Union over turbot.

Keywords: fisheries management; environment; non-use values (search for similar items in EconPapers)
JEL-codes: Q2 Q22 Q28 (search for similar items in EconPapers)
Date: 1997-02-15
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Citations: View citations in EconPapers (1)

Published in Ecological Economics 3.25(1998): pp. 281-289

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Related works:
Journal Article: Non-use values and the management of transboundary renewable resources (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:70812

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