EEP101_lecture14a

Stock sustainable outcome between o m c high stock

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Unformatted text preview: ld is not necessarily optimal Higher stocks reduce harvesting costs Lower stocks allow more extraction Extract first sustain later Extr The story U.S &Europe acti on Alternative extraction strategies Alternative Time Conserve first sustain later Extrac Occurs in fisheries Occurs which are near extinction tion which Or in restoration efforts Time Major Contributors to extraction: Demand, Open access,Extraction technology Demand, Resulting elements of Extraction control policy Reduction of demand taxes, subsidies to resource use reducing technologies establishing property rights requiring licenses to extract limiting harvesting season restricting size of equipment restricting restricting total harvesting capacity regulating externality caused by harvesting (By catch) Control of access Regulation of Extraction technology Regulation Multiple benefits of resources Multiple Resources (forests, wetlands, etc.) provide multiple services Resources (recreation, bio-diversity, etc.) (recreation, Harvesting reduces alternative environmental benefits One solution: taxation of harvested resources Alternatives: subsidies for conservation (n...
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