Microeconomic framework for the economics of whales

Abstract

MEPS Marine Ecology Progress Series Contact the journal Facebook Twitter RSS Mailing List Subscribe to our mailing list via Mailchimp HomeLatest VolumeAbout the JournalEditorsTheme Sections MEPS 530:213-222 (2015) - DOI: https://doi.org/10.3354/meps11137 Microeconomic framework for the economics of whales Laura Onofri1,*, Paulo A. L. D. Nunes2 1Department of Land, Environment, Agriculture and Forestry, University of Padua, 35122 Padua, Italy 2Ecosystem Services Economics Unit, Division of Environmental Policy Implementation, United Nations Environment Programme (UNEP), PO Box 30522, United Nations Avenue, 00100 Nairobi, Kenya *Corresponding author: laura.onofri.it@gmail.com ABSTRACT: We adopted an economic analysis to evaluate and discuss the management of conservation and commercial exploitation of whales. In particular, the paper starts from the recent proposal to create and implement a quota market for whale trading and attempts to address and develop selected economic issues, in order to move towards understanding the economics of whales. We can summarize our findings in 2 main points: (1) the choice of the quota pre-trade value, number and allocation criteria will have different impacts on the way trade will occur; (2) the definition of the rules of trade and the study of the market structure where trade occurs will also determine the final outcome. From this perspective, quota markets for whales will support conservation and discourage whaling only under stringent conditions and careful monitoring, the costs of which need to be carefully valued and distributed among stakeholders according to agreed criteria. KEY WORDS: Marine natural resources · Economic value · Trade · Quota system · Market structure · Perfect competition · Monopsony · Impure public good · Public policy Full text in pdf format PreviousNextCite this article as: Onofri L, Nunes PALD (2015) Microeconomic framework for the economics of whales. Mar Ecol Prog Ser 530:213-222. https://doi.org/10.3354/meps11137 Export citation RSS - Facebook - Tweet - linkedIn Cited by Published in MEPS Vol. 530. Online publication date: June 18, 2015 Print ISSN: 0171-8630; Online ISSN: 1616-1599 Copyright © 2015 Inter-Research.