Costello, Christopher; Kaffine, Daniel T. - In: Australian Journal of Agricultural and Resource Economics 54 (2010) 3
Marine protected areas (MPAs) and spatial property rights (TURFs) are two seemingly contradictory approaches advocated … outside via spillover. TURFs incentivize local stewardship but may be plagued by spatial externalities when the TURF size is … complete, private MPAs may already emerge in some TURFs; implementing additional MPAs reduces profits. However, to the extent …