The Economics of Spatial-Dynamic Processes: Applications to Renewable Resources

56 Pages Posted: 6 Aug 2007 Last revised: 15 Oct 2008

See all articles by Martin D. Smith

Martin D. Smith

Duke University - Nicholas School of the Environment

James N. Sanchirico

University of California, Davis - Environmental Science and Policy; Resources for the Future; Motu Economic and Public Policy Research Trust

James Wilen

University of California, Davis - Department of Agricultural and Resource Economics

Date Written: July 1, 2007

Abstract

Spatial-dynamic processes in renewable resource economics pose difficult conceptual, analytical, empirical, and institutional challenges that are distinct from either spatial or dynamic problems. We describe the challenges and conceptual approaches using both continuous and discrete depictions of space and summarize key findings. Using a metapopulation model of the fishery and simulated economic and ecological data, we show that it is possible in certain circumstances to recover both biological and economic parameters of a linked spatial-dynamic system from only economic data. We illustrate the application empirically with data from the Gulf of Mexico reef-fish fishery. We conclude with a discussion of key policy and institutional design involved in managing spatial-dynamic systems.

Suggested Citation

Smith, Martin D. and Sanchirico, James N. and Wilen, James, The Economics of Spatial-Dynamic Processes: Applications to Renewable Resources (July 1, 2007). RFF Discussion Paper No. 07-27-REV, Available at SSRN: https://ssrn.com/abstract=1004775 or http://dx.doi.org/10.2139/ssrn.1004775

Martin D. Smith (Contact Author)

Duke University - Nicholas School of the Environment ( email )

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James N. Sanchirico

University of California, Davis - Environmental Science and Policy ( email )

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Resources for the Future ( email )

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Motu Economic and Public Policy Research Trust ( email )

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James Wilen

University of California, Davis - Department of Agricultural and Resource Economics ( email )

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Davis, CA 95616
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530-752-5614 (Fax)

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