Economically optimal marine reserves without spatial heterogeneity in a simple two-patch model

Author Posting. © The Author(s), 2015. This is the author's version of the work. It is posted here by permission of John Wiley & Sons for personal use, not for redistribution. The definitive version was published in Natural Resource Modeling 28 (2015): 244-255, doi:10.1111/nrm.12066.Bioeconomic analyses of spatial fishery models have established that marine reserves can be economically optimal (i.e., maximize sustainable profit) when there is some type of spatial heterogeneity in the system. Analyses of spatially continuous models and models with more than two discrete patches have also demonstrated that marine reserves can be economically optimal even when the system is spatially homogeneous. In this note we analyze a spatially homogeneous two-patch model and show that marine reserves can be economically optimal in this case as well. The model we study includes the possibility that fishing can damage habitat. In this model, marine reserves are necessary to maximize sustainable profit when dispersal between the patches is sufficiently high and habitat is especially vulnerable to damage.Graduate Research Fellowship and a Postdoctoral Research Fellowship in Biology Grant Number: DBI-1401332; US National Science Foundation Grant Numbers: OCE-1031256, DEB-1257545, DEB-11450172016-06-2