Nonmarket Valuation of Marine Resources in the Northeast: Implications for Recreational Fisheries Management and Offshore Wind Energy Development

Abstract

Sound natural resource management considers the full range of costs and benefits of policy action. Understanding these implications as they pertain to nonmarket goods or externalities requires an accurate assessment of consumer preferences and behavior. The chapters of this dissertation ascertain this knowledge in the context of recreational Atlantic striped bass fishery management and offshore wind development in the northeast United States. Atlantic striped bass are the most prominent and heavily targeted recreational species found along the coast from Maine to North Carolina. Yet due in part to heavy recreational fishing effort, the species may be currently overfished. Given this status, it is pertinent to explore the concurrent impacts of potential policy action on angler participation, angler welfare, and recreational fishing mortality such that efficient compromises between conservation and socioeconomic objectives of fisheries management can be made. In Chapter 1, we evaluate the economic incentives faced by recreational striped bass anglers using data from a recently-administered recreational striped bass angler survey. We estimate angler preferences for and the nonmarket value of keeping and releasing small (22"), medium (29"), and trophy-sized (38") fish. We find that for each size-class, anglers prefer keeping to releasing striped bass and that the nonmarket value of Atlantic striped bass increases exponentially with catch size. Illuminating the tradeoffs made by recreational striped bass anglers, our results indicate that one harvestable trophy-sized fish can be exchanged for about two medium-sized or three small ones. vi Resource Economics, the NMFS, the Rhode Island Sea Grant, and the University of Rhode Island. Finally, to my family, who encouraged and supported my graduate school career-I love you, and I'll never be able to fully repay you for what you have helped me achieve in school and in life. vii