A Broader View of Living Marine Resource Policy and the Role of Economics Lewis E. Queirolo, Ph.D. Senior Regional Economist U.S. NOAA Fisheries Service Alaska Region

Accounting for Resource Asset Values Outside of the Marketplace Non-market consumptive use Non-market consumptive use Non-consumptive use Non-consumptive use Non-use Non-use

Issues in Global Resource Stewardship The “Principal – Agent” Relationship The “Principal – Agent” Relationship –Distant-water fleets exploiting comparative advantage, market/political/scientific –Incomplete, asymmetric, proprietary information Vertical Integration and Market Control Vertical Integration and Market Control –Loss of Management Autonomy –Excessive Shares –Industrial Scaled Fisheries –Loss of Diversity

Adapting Policy to Climate Change – Opportunities? Adaptive Fisheries Policy Adaptive Fisheries Policy –Changing Abundance, Species Composition, and Distribution –Capture, Ranching, and Farming Cooperative Management Cooperative Management –Trans-boundary; –Straddling; –Highly Migratory Stocks Infrastructure Infrastructure –Sea Level Changes –Physical Capacity Displacement and Realignment