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Limiting Environmental Program Contradictions: A Demand Systems Application to Fishery Management
Author(s) -
Ward Frank A.,
Cole Richard A.,
Deitner Robert A.,
GreenHammond Catherine A.
Publication year - 1997
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1244422
Subject(s) - limiting , interdependence , fishing , environmental economics , resource (disambiguation) , natural resource , welfare , quality (philosophy) , business , environmental quality , natural resource economics , environmental resource management , computer science , economics , fishery , ecology , engineering , mechanical engineering , market economy , computer network , philosophy , epistemology , political science , law , biology
Economically efficient natural resource policy requires the comprehensive management of environmental improvements over a system of sites. Use of multisite demand and benefit models can reduce the number and cost of environmental program contradictions. In this paper we present a multisite demand model that incorporates several quality dimensions for a system of New Mexico fishing sites. Use of the model permits managers to improve total welfare at lower cost by simultaneously distributing opportunity across all elements in resource users' choice sets. Model results show that errors that result from independently adding values of interdependent program elements approach 50%.