The Economic Values of Atlantic Herring in the Northeast Shelf Large Marine Ecosystem

Abstract In this chapter we develop a method to estimate the value of an ecosystem reserve for Atlantic herring in the U.S. Northeast Shelf Large Marine Ecosystem. Herring and other small pelagic species are important forage for other fish and marine mammals in the ecosystem. A reduction in the commercial total allowable catch (TAC) would create an ‘Ecosystem Reserve’ (ER) for herring, which may increase the residual stock of herring that would be available to other species in the ecosystem. An increase in ER ( i.e. a reduction in TAC) may imply reduced benefits of commercial harvest; and, as an offset, we may realize added benefits for the ecosystem from the ER. Conversely, an increase in TAC may result in increased commercial benefits at the expense of reduced ecosystem benefits. The approximate magnitudes of these two changes—added and reduced benefits—are the focus of this chapter.