According to Andrea Borgarello at The World Bank, “A healthy ocean provides jobs and food, sustains economic growth, regulates the climate, and supports the well-being of coastal communities”. Our oceans and ocean economy have not only a distinct impact on global food production, but also provide us with incredible habitats and vibrant biodiversity. As the world’s largest carbon sink, we need to protect the oceans whilst still using it to provide for the approximately 600 million livelihoods globally that depend at least partially on fisheries and aquaculture. In today’s episode, I sit down to talk with Dr Ethan Addicott out of the University of Exeter to discuss the permitting of the fishing industry in Alaska and how such schemes affect the wider economy. His work combines theory with detailed biogeophysical and economic data to better understand changes in natural capital assets. Ethan frequently works with natural scientists and other economists to accelerate progress toward a sustainable future. Dr Ethan Addicott: https://business-school.exeter.ac.uk/people/profile/index.php?web_id=Ethan_Addicott Timestamps: 00:00 Opening 00:29 Introduction 01:05 Outline of Research Paper 02:47 Ocean Degradation 03:21 Why Fishing Permits? 09:39 Fisheries Spillovers 11:30 What are Fisheries? 17:06 Research Results 21:37 Other Research on Fisheries 27:03 Why Regulating a Technology Might Be Bad for a Resource? 30:33 Free Markets VS Regulation 33:52 Downsides of Fishery Permits 34:40 Data Collection/Analysis on Research Paper 36:10 New Policy Opportunities? 42:28 Opportunities for Future Research? 47:38 Ethan's Other Work 48:55 Outro Video References: 1) Dumped fishing gear is biggest plastic polluter in ocean, finds report, Sandra Laville, 2019 https://www.theguardian.com/environment/2019/nov/06/dumped-fishing-gear-is-biggest-plastic-polluter-in-ocean-finds-report 2) Identifying the potential for cross-fishery spillovers: a network analysis of Alaskan permitting patterns, Addicott, Kroetz, Reimer, Sanchirico, Lew and Huetteman, 2018 https://cdnsciencepub.com/doi/10.1139/cjfas-2017-0550 3) Lotka-Volterra Equations, Eric Weisstein, 2023 https://mathworld.wolfram.com/Lotka-VolterraEquations.html 4) What Is the Prisoner's Dilemma and How Does It Work?, Investopedia, 2023 https://www.investopedia.com/terms/p/prisoners-dilemma.asp 5) 30 Years of Limited Entry, Frank Homan, 2023 https://seagrant.uaf.edu/events/fish-com2/ppts/homan-limitedentry-summary.pdf 6) Can Catch Shares Prevent Fisheries Collapse?, Christopher Costello et al, 2008 https://www.science.org/doi/10.1126/science.1159478 7) Did NATIONALISATION Help the Rail Industry? | Marginal Babble Ep.6 with Dr Mark Casson, Maxwell Dorey, 2023 https://youtu.be/p8l9UwTHW6c 8) Being BETTER with Data Analysis! | Marginal Babble Ep.9 with Dr Shixuan Wang, Maxwell Dorey, 2023 https://youtu.be/0hT4Ly5fc80 9) Magnuson-Stevens Fishery Conservation and Management Act, NOAA Fisheries, 2007 https://www.fisheries.noaa.gov/resource/document/magnuson-stevens-fishery-conservation-and-management-act 10) Has the Brexit fishing promise come true?, Tamara Kovacevic, 2023 https://www.bbc.co.uk/news/64430216 11) United Nations Decade of Ocean Science for Sustainable Development (2021-2030), Unesco, 2023 https://en.unesco.org/ocean-decade 12) Coastal zone management, UN Environment Programme, 2023 https://www.unep.org/explore-topics/oceans-seas/what-we-do/working-regional-seas/coastal-zone-management 13) How climate change is re-allocating ocean wealth – and why it matters, Ethan Addicott, 2023 https://business-school-expertise.exeter.ac.uk/article/how-climate-change-is-re-allocating-ocean-wealth/ Socials: Tiktok: https://www.tiktok.com/@marginalbabble Instagram: https://www.instagram.com/maxdorey96/ Twitter: https://twitter.com/MaxDorey1 LinkedIn: https://www.linkedin.com/in/maxwell-dorey-7958a4128/