Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying
Seismic surveys can improve estimates of net private benefits from uncertain hydrocarbon deposits. The Value-of-Information (VOI) can capture these gains. At the same time, seismic surveys impose uncertain damages from noise pollution on marine life. Arctic waters are increasingly attractive explora...
Published in: | Environmental and Resource Economics |
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Language: | English |
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2021
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Online Access: | https://portal.findresearcher.sdu.dk/da/publications/71afe00c-14ac-4739-a135-81a643e298e5 https://doi.org/10.1007/s10640-021-00598-2 |
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ftsydanskunivpub:oai:sdu.dk:publications/71afe00c-14ac-4739-a135-81a643e298e5 2024-05-19T07:35:40+00:00 Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying Punt, Maarten J. Kaiser, Brooks A. 2021-11 https://portal.findresearcher.sdu.dk/da/publications/71afe00c-14ac-4739-a135-81a643e298e5 https://doi.org/10.1007/s10640-021-00598-2 eng eng https://portal.findresearcher.sdu.dk/da/publications/71afe00c-14ac-4739-a135-81a643e298e5 info:eu-repo/semantics/closedAccess Punt , M J & Kaiser , B A 2021 , ' Seismic Shifts from Regulations : Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying ' , Environmental and Resource Economics , vol. 80 , no. 3 , pp. 553-585 . https://doi.org/10.1007/s10640-021-00598-2 Arctic oil and gas exploration Cost-effectiveness analysis (CEA) Evaluation of regulatory programs Hydrocarbon exploration Marine habitat Marine mammals Marine noise pollution Seismic surveys Spatial bio-economic modelling Value of Information (VOI) article 2021 ftsydanskunivpub https://doi.org/10.1007/s10640-021-00598-2 2024-05-01T00:34:31Z Seismic surveys can improve estimates of net private benefits from uncertain hydrocarbon deposits. The Value-of-Information (VOI) can capture these gains. At the same time, seismic surveys impose uncertain damages from noise pollution on marine life. Arctic waters are increasingly attractive exploration locales, but ice cover temporally constrains both surveying and marine mammal species. Thus, damage mitigation requires both temporal and spatial planning. We develop a spatially explicit bio-economic model through which we can calculate the VOI from seismic surveying options alongside potential marine mammal displacements. We demonstrate the model using hydrocarbon exploration opportunities off the Western Greenlandic coast. Lacking estimates for marine mammal sound habitat conservation benefits, we use cost-effectiveness (CEA) as an alternative to weakly informed cost–benefit analysis to identify implicit thresholds as a function of regulatory choices based on different relative spatial values of marine mammal habitat conservation. We check robustness using Monte Carlo (MC) simulations. We illustrate how the combined use of VOI, CEA and MC can ease decision making when uncertainties are compounded and cost–benefit analysis is not feasible. Article in Journal/Newspaper Arctic greenlandic University of Southern Denmark Research Portal Environmental and Resource Economics 80 3 553 585 |
institution |
Open Polar |
collection |
University of Southern Denmark Research Portal |
op_collection_id |
ftsydanskunivpub |
language |
English |
topic |
Arctic oil and gas exploration Cost-effectiveness analysis (CEA) Evaluation of regulatory programs Hydrocarbon exploration Marine habitat Marine mammals Marine noise pollution Seismic surveys Spatial bio-economic modelling Value of Information (VOI) |
spellingShingle |
Arctic oil and gas exploration Cost-effectiveness analysis (CEA) Evaluation of regulatory programs Hydrocarbon exploration Marine habitat Marine mammals Marine noise pollution Seismic surveys Spatial bio-economic modelling Value of Information (VOI) Punt, Maarten J. Kaiser, Brooks A. Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying |
topic_facet |
Arctic oil and gas exploration Cost-effectiveness analysis (CEA) Evaluation of regulatory programs Hydrocarbon exploration Marine habitat Marine mammals Marine noise pollution Seismic surveys Spatial bio-economic modelling Value of Information (VOI) |
description |
Seismic surveys can improve estimates of net private benefits from uncertain hydrocarbon deposits. The Value-of-Information (VOI) can capture these gains. At the same time, seismic surveys impose uncertain damages from noise pollution on marine life. Arctic waters are increasingly attractive exploration locales, but ice cover temporally constrains both surveying and marine mammal species. Thus, damage mitigation requires both temporal and spatial planning. We develop a spatially explicit bio-economic model through which we can calculate the VOI from seismic surveying options alongside potential marine mammal displacements. We demonstrate the model using hydrocarbon exploration opportunities off the Western Greenlandic coast. Lacking estimates for marine mammal sound habitat conservation benefits, we use cost-effectiveness (CEA) as an alternative to weakly informed cost–benefit analysis to identify implicit thresholds as a function of regulatory choices based on different relative spatial values of marine mammal habitat conservation. We check robustness using Monte Carlo (MC) simulations. We illustrate how the combined use of VOI, CEA and MC can ease decision making when uncertainties are compounded and cost–benefit analysis is not feasible. |
format |
Article in Journal/Newspaper |
author |
Punt, Maarten J. Kaiser, Brooks A. |
author_facet |
Punt, Maarten J. Kaiser, Brooks A. |
author_sort |
Punt, Maarten J. |
title |
Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying |
title_short |
Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying |
title_full |
Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying |
title_fullStr |
Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying |
title_full_unstemmed |
Seismic Shifts from Regulations:Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying |
title_sort |
seismic shifts from regulations:spatial trade-offs in marine mammals and the value of information from hydrocarbon seismic surveying |
publishDate |
2021 |
url |
https://portal.findresearcher.sdu.dk/da/publications/71afe00c-14ac-4739-a135-81a643e298e5 https://doi.org/10.1007/s10640-021-00598-2 |
genre |
Arctic greenlandic |
genre_facet |
Arctic greenlandic |
op_source |
Punt , M J & Kaiser , B A 2021 , ' Seismic Shifts from Regulations : Spatial Trade-offs in Marine Mammals and the Value of Information from Hydrocarbon Seismic Surveying ' , Environmental and Resource Economics , vol. 80 , no. 3 , pp. 553-585 . https://doi.org/10.1007/s10640-021-00598-2 |
op_relation |
https://portal.findresearcher.sdu.dk/da/publications/71afe00c-14ac-4739-a135-81a643e298e5 |
op_rights |
info:eu-repo/semantics/closedAccess |
op_doi |
https://doi.org/10.1007/s10640-021-00598-2 |
container_title |
Environmental and Resource Economics |
container_volume |
80 |
container_issue |
3 |
container_start_page |
553 |
op_container_end_page |
585 |
_version_ |
1799474486473392128 |