We conduct the first empirical investigation of common-pool resource users' dynamic and strategic behavior at the micro level using real-world data. Fishermen's strategies in a fully dynamic game account for latent resource dynamics and other players' actions, revealing the profit structure of...

New research in fisheries economics addresses incentives across many margins. These margins include within-season effects, incentives to harvest different ages and sizes of fish, responses to ecological disturbances, spatial choices, and multispecies interactions. Even developments in global...

Valuing ecosystem services with microeconomic underpinnings presents challenges because these services typically constitute nonmarket values and contribute to human welfare indirectly through a series of ecological pathways that are dynamic, nonlinear, and difficult to quantify and link to...

In many developing countries a lack of property rights leads to unsustainable harvests of traditionally exploited renewable resources. Product and labor market failure due to trans-action costs can either exacerbate or offset this overexploitation. Combining a model of open access fisheries...

Valuing ecosystem services with microeconomic underpinnings presents challenges because these services typically constitute nonmarket values and contribute to human welfare indirectly through a series of ecological pathways that are dynamic, nonlinear, and difficult to quantify and link to...

Marine scientists and policymakers are encouraging ecosystem-based fishery management (EBFM), but there is limited guidance on how to operationalize the concept. We adapt financial portfolio theory as a method for EBFM that accounts for species interdependencies, uncertainty, and sustainability...

This paper models dynamic producer and consumer benefits from improving habitat that supports the North Carolina blue crab fishery. It embeds two fishery management institutions—open access and partial rationalization—in a multispecies, two-patch spatial bioeconomic model with endogenous...

This paper analyzes spatial patterns of exploitation in the California sea urchin fishery using two different econometric approaches: a combined count data and SUR model of monthly observations and a micro-level Nested Logit model of individual harvester daily decisions. Each model is used to...

This paper considers the dynamic producer and consumer benefits from improving habitat that supports a commercial fishery under two different fishery management institutions. By coupling state equations that represent the effects of estuarine eutrophication on fish populations with a...

The bioeconomic impacts of spatial fisheries management hinge on how fishing vessels reallocate their effort over space. However, empirical studies face two challenges: heterogeneous behavioral responses and unobservable resource abundance. This paper addresses these two problems simultaneously...