The virtual bioeconomy: the 'failure' of performativity and the implications for bioeconomics

This article considers how the bioeconomy - conceived as a market constituted by and constituting technologies derived from the biosciences - can be usefully considered as a virtual economy in that the representations and practices of economic activity differ significantly from one another. It does so through an analysis of the economic theories on spatial innovation processes (e.g. clusters) that have proved a popular approach in economic geography. The article contrasts the theory of performativity with that of virtualism in order to illustrate how the failure of economic performativity helps to explain economic practices rather than assuming that economic theories necessarily 'work' as implied by the theory of performativity. This has important implications for how we understand the bioeconomy because it means that we have to reconsider the production of biovalue

Stochastic Bioeconomics: A Review of Basic Methods and Results

Basic bioeconomic models which incorporate uncertainty are reviewed to show and compare the principal methods used and results reported in the literature. Beginning with a simple linear control model of stock uncertainty, we proceed to discuss more complex models which explicitly recognize risk preferences, firm and industry behavior, and market price effects. The effects of uncertainty on the results of bioeconomic analysis are rarely unambiguous, and in some instances differ little from corresponding deterministic results. This review is presented to enhance readers' appreciation of the papers to follow in this and the next issue of the journal.Environmental Economics and Policy, International Development, Resource /Energy Economics and Policy, Risk and Uncertainty,

Dairy Deregulation and Low-Input Dairy Production: A Bioeconomic Evaluation

Deregulation of the Australian dairy industry could affect the utilization of resources by milk producers and the profitability of dairy production. In this study we examine the feed mix that dairy producers use, both pastures and supplements, under partial and total deregulation. We are particularly interested in the interaction of pasture utilization and farm profitability. The results of this research demonstrate that profitable low-input dairying is constrained by the most limiting resource, feed supplied by pasture, and that the interactions between economic and biological processes are critical to farm profitability

A Stochastic Bioeconomic Model with Research

This paper provides an incremental extension of a stochastic renewable resource model (Pindyck 1984) to include population dynamics research; i.e., the rate of accrual of information regarding the stochastic evolution of the stock, as a dynamic choice variable. While Pindyck models variance in stock growth as an exogenous parameter, our formulation endogenizes this variance and characterizes the impact of scientific information accrual on both the harvest decision and the present value of rents resulting from harvest activity. We illustrate the theoretical existence of an internal optimum in research effort using a numerical example.stochastic bioeconomic model, stochastic control, fisheries management, population dynamics research, renewable resource, uncertainty, Resource /Energy Economics and Policy, Q2, Q22, C61,

Bioeconomic analysis of protected area use in fisheries management

Protected areas in fishery management have been suggested to hedge management failures and variation in harvests. In this paper, a stochastic bioeconomic model of a two-species fishery in the Manning Bioregion is used to test the performance of protected areas as a management tool in a fishery. The establishment of a protected area is analysed under the assumption of heterogenous environments that are linked via density-dependent or sink-source stock dispersal relationships. The sensitivity of the results to different degrees of management is also explored. The model is applied to the Ocean Prawn Trawl, and Ocean Trap and Line fisheries within Manning Bioregion in New South Wales, Australia. The focus of the study is placed on the biological and institutional characteristics that yield benefits to the fishery. It was found that protected area use in the Manning Bioregion is likely to have differing effects on the two fisheries examined, benefiting Ocean Trap and Line fishers but adversely affecting Ocean Prawn Trawl fishers. Overall, it is unlikely that protected area use will lead to an increase resource rent in the fishery.bioeconomics, fisheries management, marine protected areas, Resource /Energy Economics and Policy,

Bayesian Bioeconomics of Marine Reserves

We use Bayesian econometric methods to estimate dynamic bioeconomic models of marine reserve formation using simulated data and real data from the Gulf of Mexico reef fish fishery. We test the effects of reserves on fish growth and catchability.Resource /Energy Economics and Policy,

Bioeconomics of Sustainable Harvest of Competing Species: A Comment

We refer to Flaaten’s (JEEM 1991, pp. 163–80) study on competing species. In Theorem 5 (Theorem 6), Flaaten claims that a higher price (harvesting costs) of one species yields a lower (greater) own stock-size and a greater (lower) stock-size of the competing species in the steady state. It is shown that both claims are wrong.Renewable resources, fishery management, multiple species model, Resource /Energy Economics and Policy, D62, D99, Q22,

Fisheries Economics and 20 Years with Marine Resource Economics: A Citation Analysis

Abstract This paper reviews the impact of articles published in the Marine Resource Economics (MRE) and within the field of fisheries economics in general over the period 1954–2004. Specific attention is given to the years 1984–2004, which is the period that MRE has been published. The degree of influence is assessed using citation analysis. I present the most cited papers in MRE, the top ten all time cited fisheries economics papers, and the most cited papers during each decade over the last 30 years. By analysing the trend of recently published papers, I can assess which ones are projected to be most influential. Keywords: Fisheries economics, Marine Resource Economics, ISI. JEL Classification Code: Q22.Fisheries economics, Marine Resource Economics, ISI, Resource /Energy Economics and Policy, Q22,