The dynamic efficiency of closures in bioeconomic systems depends upon stock levels and in situ values that evolve over time, and on relative costs of implementation. A model of a harvested metapopulation is presented in which second-best reduction of harvest from open-access levels using input...

The dynamic efficiency of closures in bioeconomic systems depends upon stock levels and "in situ" values that evolve over time, and on relative costs of implementation. A model of a harvested metapopulation is presented in which second-best reduction of harvest from open-access levels using...