annotated bibliography of fisheries economics literature - Office of ...

Rosenman, Robert E. (1986). The Optimal Tax for Maximum Economic Yield:
Fishery Regulation Under Rational Expectations. Journal of
Environmental Economics and Management, 13:348-362.
This paper examines the optimal tax to achieve maximum economic yield
(MEY) exploitation in a rational expectations model of a competitive open
access fishery. To analyze the dynamic evolution of resource use a structural
model that explains the relationship between the firm and the industry is
presented. The unregulated equilibrium is contrasted with the potential MEY.
Conditions under which the unregulated equilibrium will be MEY are explored.
In addition, a tax is devised that will cause non-MEY competitive exploitation
to become MEY when the tax is implemented.
Rosenthal, Donald H. (1985). "Representing Substitution Effects in
Models of Recreation Demand." PH.D. Dissertation, Department of
Agricultural and Natural Resource Economics, Colorado State
University, Fort Collins, Colorado.
This study determines how sensitive economic estimates of the value of
recreation sites are to the manner in which the influence of substitute
recreation sites is modeled. the average consumer surplus per person, per
trip at eleven different reservoirs operated by the U.S. Army Corps of
Engineers was estimated using three different zonal travel cost models (TCMs).
Each TCM differed with respect to its treatment of substitute recreation
sites.
Rosenthal, Donald H. (1987). "The Necessity for Substitute Prices in
Recreation Demand Analyses." American Journal of Agricultural
Economics, 69(4):828-837.
Omitting substitute prices from a travel cost model is shown to cause a
significant bias in consumer surplus estimates. Three sets of travel cost
models are developed from a common data base representing 60,000 day users of
U.S. Army Corps of Engineer reservoirs in Kansas and Missouri. The first set
of models omitted substitute prices; the latter two sets included them. An
analysis of variance test showed that consumer surplus estimates from the
first set of models were significantly higher than the other two (F=26.2 with
2,20 degrees of freedom). The theoretical and practical implications of these
findings are discussed.
Rosenthal, Donald H., Marshall B. Rose, and Lawrence J. Slaski (1988).
"Economic Value of the Oil and Gas Resources on the Outer
Continental Shelf." Marine Resource Economics, 5(3):171-189.
A theoretical framework for estimating the economic value of the federal
government's offshore oil and gas resources is developed. This framework is
then applied to geological and economic data generated by the Minerals
Management Service in support of their five-year leasing plan. With an 8
percent real discount rate and a 1 percent real price growth rate, the
remaining economic rent as of 1987 on the reserves plus the undiscovered
offshore oil and gas resources is estimated at $118.6 billion (1987 dollars).
The present value of the government's receipts from cash bonus and royalty
payments on these deposits is estimated at $37.2 billion. Over 80 percent of
the remaining economic rent is derived from developed reserve deposits located
in the Gulf of Mexico. The private sector has previously paid cash bonuses
for the leases located on those deposits and financed the installation of the
development platforms. Because of this, the government will collect only a
small portion, approximately 22 percent, of the rent remaining on those
reserves.
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