Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary
Abstract
© 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.
Type
Journal articlePermalink
https://hdl.handle.net/10161/13470Published Version (Please cite this version)
10.1086/685109Publication Info
Stefanski, SF; & 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 https://hdl.handle.net/10161/13470.This is constructed from limited available data and may be imprecise. To cite this
article, please review & use the official citation provided by the journal.
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Show full item recordScholars@Duke
Stephanie Stefanski
Teaching Assistant
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

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