Economic analysis of protection of essential fish habitat in Alaskan fisheries: an analysis of research needs

Abstract

This report identifies the types of information necessary to evaluate the economic impacts of Essential Fish Habitat (EFH) protection and the gaps in the existing knowledge and research methodologies necessary for this evaluation. A discussion of the basic elements of a benefit-cost analysis or a cost-effectiveness analysis for essential fish habitat protective measures (EFHPM) is used to identify the types of benefits, both use and nonuse benefits, which must be quantified and monetized if they are to be used in a formal benefit-cost analysis. There is also a discussion of the potential costs of EFHPM and how they might be measured. This discussion identified large gaps in knowledge and in valuation methodologies. On the basis of the relative importance of these knowledge gaps and the feasibility of filling them with new research, a number of potentially productive areas of research are identified. This research would improve our ability to more optimally balance habitat protection against costly constraints on fishing. The research areas identified include random utility modeling of location choice, bioeconomic modeling to estimate fishery benefits of habitat protection, non-market valuation of habitat protection programs perhaps paired with research on benefit transfer techniques, and market based systems to cost-effectively achieve specified habitat protection objectives.


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