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): <center> <h2> Deposit Agreement </h2> </center> I represent that I am the creator of the digital material identified herein (“Work”). I represent that the work is original and that I either own all rights of copyright or have the right to deposit the copy in a digital archive such as AgEcon Search. I represent that in regard to any non-original material included in the Work I have secured written permission of the copyright owner (s) for this use or believe this use is allowed by law. I further represent that I have included all appropriate credits and attributions. I hereby grant the Regents of the University of Minnesota (“University”), through AgEcon Search, a non-exclusive right to access, reproduce, and distribute the Work, in whole or in part, for the purposes of security, preservation, and perpetual access. I grant the University a limited, non-exclusive right to make derivative works for the purpose of migrating the Work to other media or formats in order to preserve access to the Work. I do not transfer or intend to transfer any right of copyright or other intellectual property to the University. If the Deposit Agreement is executed by the Author�s Representative, the Representative shall separately execute the following representation: I represent that I am authorized by the Author to execute this Deposit Agreement on behalf of the Author. 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 No. of bitstreams: 1 Cornell-Dyson-sp8303.pdf: 1023521 bytes, checksum: 5f2f11fa41d26c9ebcd28582b5fe549b (MD5) 000183988 912__ $$nMade available in DSpace on 2014-09-11T21:48:08Z (GMT). No. of bitstreams: 1 Cornell-Dyson-sp8303.pdf: 1023521 bytes, checksum: 5f2f11fa41d26c9ebcd28582b5fe549b (MD5) Previous issue date: 1983-02 000183988 982__ $$gCornell University>Department of Applied Economics and Management>Staff Papers 000183988 980__ $$a641