Beach Nourishment as a Dynamic Capital Accumulation Problem

37 Pages Posted: 18 Apr 2007

See all articles by Martin D. Smith

Martin D. Smith

Duke University - Nicholas School of the Environment

Jordan Slott

Duke University

A. Brad Murray

Duke University

Date Written: March 2007

Abstract

Beach nourishment is a common coastal management strategy used to combat erosion along sandy coastlines. It involves building out a beach with sand dredged from another location. This paper develops a positive model of beach nourishment and generates testable hypotheses about how the frequency of nourishment responds to property values, project costs, erosion rates, and discounting. By treating the decision to nourish as a dynamic capital accumulation problem, the model produces new insights about coupled economic geomorphological systems. In particular, determining whether the frequency of nourishment increases in response to physical and economic forces depends on whether the decay rate of nourishment sand exceeds the discount rate.

Keywords: beach nourishment, optimal rotation, natural capital

JEL Classification: Q24, Q54

Suggested Citation

Smith, Martin D. and Slott, Jordan M. and Murray, A. Brad, Beach Nourishment as a Dynamic Capital Accumulation Problem (March 2007). Available at SSRN: https://ssrn.com/abstract=980742 or http://dx.doi.org/10.2139/ssrn.980742

Martin D. Smith (Contact Author)

Duke University - Nicholas School of the Environment ( email )

Box 90328
A122 LSRC
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HOME PAGE: http://fds.duke.edu/db/Nicholas/esp/faculty/marsmith

Jordan M. Slott

Duke University ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

A. Brad Murray

Duke University ( email )

100 Fuqua Drive
Durham, NC 27708-0204
United States

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