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Economics of an Integrated Ocean Observing System

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Improved ocean observing systems will produce better data on ocean phenomena and result in new and improved information about short-term and long-term ocean conditions and weather/climate. This information will be of economic value to a range of industries and activities, including maritime transportation, commercial fishing, agriculture, the energy industries, recreation, and coastal zone management. Our quantitative understanding of these benefits is incomplete, but the evidence to date suggests that benefits from well-targeted investments in integrated ocean observing systems will justify the costs. Work is underway to better quantify these benefits. This paper reviews the “value of information” approach to the economics of ocean observing systems and describes how this approach can be applied to estimate benefits and assist in the design of these systems.
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Document Type: Research Article

Publication date: 2003-09-01

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  • The Marine Technology Society Journal is the flagship publication of the Marine Technology Society. It publishes the highest caliber, peer-reviewed papers on subjects of interest to the society: marine technology, ocean science, marine policy and education. The Journal is dedicated to publishing timely special issues on emerging ocean community concerns while also showcasing general interest and student-authored works.
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