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Bioeconomics is the study of the dynamics of living resources using economic models.^[1] It is an attempt to apply the methods of environmental economics and ecological economics to empirical biology.^{[citation needed]} Bioeconomics applies optimal control methods to mathematical models using environmental and ecological elements for resource protection issues relating to resource economics.

Bioeconomics is the science determining the socioeconomic activity threshold for which a biological system can be effectively and efficiently utilised without destroying the conditions for its regeneration and therefore its sustainability.^[2]

[edit] History

Bioeconomics is closely related to the early development of theories in fisheries economics, initially in the mid 1950s by Canadian economists Scott Gordon (in 1954) and Anthony Scott (1955). Their ideas used recent achievements in biological fisheries modelling, primarily the works by Schaefer (1957) on establishing a formal relationship between fishing activities and biological growth through mathematical modelling confirmed by empirical studies, and also relates itself to ecology and the environment and resource protection.

These ideas developed out of the multidisciplinary fisheries science environment in Canada at the time. Fisheries science and modelling developed rapidly during a productive and innovative period, particularly among Canadian fisheries researchers of various disciplines. Population modelling and fishing mortality were introduced to economists, and new interdisciplinary modelling tools became available for the economists, which made it possible to evaluate biological and economic impacts of different fishing activities and fisheries management decisions.

[edit] Renewable resources

Fisheries: At least one researcher has attempted to perform Hubbert linearization (Hubbert curve) on the whaling industry, as well as charting the transparently dependent price of caviar on sturgeon depletion.^[3] Another example is the cod of the North Sea.^[4] The comparison of the cases of fisheries and of mineral extraction tells us that the human pressure on the environment is causing a wide range of resources to go through a depletion cycle which follows a Hubbert curve.

[edit] See also

[edit] References

^ Colin W. Clark (1987). "bioeconomics," The New Palgrave: A Dictionary of Economics, v. 1, pp. 245-46.
^ http://www.scienceofbioeconomics.com/what-is-bioeconomics.asp Retrieved Aug-2-09
^ http://www.aspoitalia.net/index.php?option=com_content&task=view&id=34&Itemid=39
^ http://www.hubbertpeak.com/laherrere/multihub.htm

[edit] Further reading

H. Scott Gordon (1954). The Economic Theory of a Common-Property Resource: The Fishery. The Journal of Political Economy 62(2): 124-142.
M. B. Schaefer (1957). Some considerations of population dynamics and economics in relation to the management of marine fishes. Journal of the Fisheries Research Board of Canada, 14: 669-81.
Seijo JC, Defeo O and Salas S (1998) Fisheries bioeconomics: Theory, modelling and management FAO Fisheries, Technical paper 368. ISBN 92-5-104045-1.
kabir i. falau(2008). The modern Economics: The Objectives of Sole Ownership. The Journal of Political Economy 63(2): 116-124.

[edit] External links

[0] Colin W. Clark (1987). "bioeconomics," The New Palgrave: A Dictionary of Economics, v. 1, pp. 245-46.

[1] ttp://www.scienceofbioeconomics.com/what-is-bioeconomics.asp Retrieved Aug-2-09

[2] ttp://www.aspoitalia.net/index.php?option=com_content&task=view&id=34&Itemid=39

[3] ttp://www.hubbertpeak.com/laherrere/multihub.htm

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