by
Ragnar Arnason
Professor
University of Iceland
Department of Economics
Reykjavik, Iceland
A Report for the
Food and Agriculture Organization
Revised version
October 2000
Food and Agriculture Organization of the United Nations
Rome, 2001
ISSN 0429-9345
FAO
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413
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ISBN 92-5-104631-X
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1. RECENT EXPERIENCES IN OCEAN RANCHING: THE CASES OF JAPAN, UNITED STATES AND ICELAND
1.1 Ocean Ranching in Japan
1.2 Ocean Ranching in the United States
1.3 Ocean Ranching in Iceland
1.4 Similarities and Dissimilarities
1.5 Outlook
2. THE FUNDAMENTAL EXTERNALITY OF OCEAN RANCHING
2.1 The Size, Direction and Implications of the Ecological Externality
2.2 Remedies
2.3 The International Aspect
3. METHODOLOGY FOR ASSESSING THE COSTS AND BENEFITS OF OCEAN RANCHING
3.1 Basic Theory
3.2 Appropriate Accounting Prices
3.3 Developed and Underdeveloped Economies
3.4 Ocean Ranching and Environmental Externalities
3.5 Calculation of Net Benefits
3.6 The Incidence of Costs and Benefits
3.7 The Impact of Estimated Recovery Rates
3.8 Summary Guidelines for the Economic Evaluation of Ocean Ranching Projects
3.9 Institutional Framework
Appendix 1: Derivation of cost-benefit equations
Appendix 2: Equations for estimating recovery rates