NONSPATIAL AND SPATIAL MODELS IN BIOECONOMICS
Version of Record online: 30 DEC 2011
Copyright ©2011 Wiley Periodicals, Inc.
Natural Resource Modeling
Special Issue: 25 Years of Natural Resource Modeling: Perspectives of Then and Now
Volume 25, Issue 1, pages 52–92, February 2012
How to Cite
CONRAD, J. M. and SMITH, M. D. (2012), NONSPATIAL AND SPATIAL MODELS IN BIOECONOMICS. Natural Resource Modeling, 25: 52–92. doi: 10.1111/j.1939-7445.2011.00102.x
- Issue online: 30 DEC 2011
- Version of Record online: 30 DEC 2011
- Accepted 14th July 2007.
- fisheries policy;
- marine reserves;
- marine spatial planning
Abstract Beginning in the 1960s, ecologists, mathematicians, and economists started developing a class of models, which today are referred to as bioeconomic models. These early models started with a difference or differential equation describing the dynamics of a biological resource. To this equation one might add a second difference or differential equation describing the dynamics of “harvesting effort.” Alternatively, one could formulate a dynamic optimization problem seeking to maximize discounted net benefit. These models provided important insights into the tragedy of the commons and policies that might promote optimal management. By the 1970s, more complex models were developed incorporating multispecies interactions, age-structured populations, and models with stochastic growth. In the late 1990s, spatial bioeconomic models were developed in recognition of the importance of location when managing biological resources. The objectives of this survey are to: (i) review some of the early models in bioeconomics, (ii) present some of the key spatial models in bioeconomics that have been used to assess the value of marine (no-take) reserves, and (iii) speculate on the direction of future research in spatial bioeconomics.