TROPHIC PORTFOLIOS IN MARINE FISHERIES: A STEP TOWARDS ECOSYSTEM MANAGEMENT

Preprint OPEN
Sanchirico, James N.; Smith, Martin D.;
(2003)
  • Subject: Environmental Economics and Policy, Resource /Energy Economics and Policy,

Marine ecologists warn that humans are "fishing down marine food webs." To explore the economic implications of this phenomenon, this paper applies portfolio theory to aggregate fisheries data. It poses two definitions of a sustainable mean-variance catch frontier. It c... View more
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