Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary
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© 2016 MRE Foundation, Inc. All rights reserved.Ecological diversity is especially high in the Gulf of Mexico, and multiple Gulf of Mexico resources imply complex management challenges. Yet, relatively little is known about social values of marine biodiversity in the Gulf of Mexico. This article uses results from a stated preference survey of nationally representative households to quantify economic values. The specific assessment scenario involves a current policy proposal to expand the boundaries of the Flower Garden Banks National Marine Sanctuary. Willingness to pay estimates range from 35-107 per household. Respondent characteristics are related to willingness to pay in ways consistent with economic intuition and theory. We conclude with aggregate willingness to pay calculations, and results suggest that total social benefits of marine reserve expansion in the Gulf region are large.
Published Version (Please cite this version)10.1086/685109
Publication InfoStefanski, Stephanie; & Shimshack, JP (2016). Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary. Marine Resource Economics, 31(2). pp. 211-232. 10.1086/685109. Retrieved from http://hdl.handle.net/10161/13470.
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My research applies resource and development economics towards measuring trade-offs in marine resource management. My current doctoral research assesses how configuration of rights based management influence economic, social, and ecological outcomes, with a focus on individual transferable quota (ITQ) programs in Argentine fisheries. In general, my research aims to assess resource management design and implementation to develop management strategies that support coastal community