000183988 001__ 183988
000183988 005__ 20180122234218.0
000183988 037__ $$a641-2016-43391
000183988 041__ $$aen_US
000183988 245__ $$aRisk, Information and the Development of Marine Resources
000183988 260__ $$c1983-02
000183988 269__ $$a1983-02
000183988 300__ $$a17
000183988 336__ $$aWorking or Discussion Paper
000183988 490__ $$a83-3
000183988 520__ $$aThe development of offshore oil and gas, the mining of deep sea minerals and the disposal of wastes through ocean dumping have raised important questions about the way we harvest ocean resources and use the marine environment.  From an economic perspective all of the above activities involve risk, either to private developers, society at large, or both.  This paper presents a simple model of resource development with environmental risk.  The model and subsequent modifications are used to characterize the risks inherent in the aforementioned marine activities, and to help define an appropriate role for public policy.  The nature of the risks involved, the possibilities for risk spreading, the presence or absence of irreversible consequences, and the expected value of information are shown to be important in determining the rate of development and the way in which net benefits should be evaluated.
000183988 542__ $$fLicense granted by Allison Hasslen (hassl020@umn.edu) on 2014-09-11T21:43:12Z (GMT):

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000183988 650__ $$aLand Economics/Use
000183988 650__ $$aLivestock Production/Industries
000183988 650__ $$aProduction Economics
000183988 700__ $$aConrad, Jon M.
000183988 8564_ $$s1023521$$uhttp://ageconsearch.umn.edu/record/183988/files/Cornell-Dyson-sp8303.pdf
000183988 887__ $$ahttp://purl.umn.edu/183988
000183988 909CO $$ooai:ageconsearch.umn.edu:183988$$pGLOBAL_SET
000183988 912__ $$nSubmitted by Allison Hasslen (hassl020@umn.edu) on 2014-09-11T21:48:08Z
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  Previous issue date: 1983-02
000183988 982__ $$gCornell University>Department of Applied Economics and Management>Staff Papers
000183988 980__ $$a641