Journal of Environmental Economics and Management 42, 257 276 Å½2001. doi:10.1006rjeem.2000.1162, available online at http:r rwww.idealibrary.com on James N. Sanchiricoâ Resources for the Future, 1616 P Street NW, Washington DC 20036 and James E. Wilen Department of Agricultural and Resource Economics, UniÂ¨ ersity of California, DaÂ¨ is, California 95616 Received October 21, 1998; revised March 16, 1999; published online January 19, 2001 This paper employs a dynamic and spatial model of renewable resource exploitation to investigate the effects of . The model combines a metapopulation model incorporating resource patch heterogeneity and dispersal with a behaviorally based spatially explicit harvesting model that assumes that fishermen choose location in a manner that eliminates spatial arbitrage opportunities. The combined spatial bioeconomic model is used to simulate the effects of reserve creation under various ecological structures. We identify parameter configurations and ecological dispersal processes that give rise to a double-payoff in which both aggregate biomass and harvest increase after an area of the 2001 Academic Press fishery is set aside and protected from exploitation. Key Words: renewable resources; fisheries; marine reserves. I. INTRODUCTION For the past decade there has been growing support among biologists for an expansion of the use of marine
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