Biological “hot spots” and their effect on optimal bioeconomic marine reserve formation

Biological “hot spots” are regions within a fishery that possess a larger growth potential than the surrounding areas. This paper analyzes how these biological hot spots influence the optimal bioeconomic marine reserve formation within a fishery. The presence of biological hot spots within a fishery creates an environment within which it is optimal to establish a marine reserve that increases the productivity and therefore the value of the fishery. This result is analyzed using heterogeneity in the intrinsic growth rates and carrying capacities within a fishery. Simulation results illustrate that the optimal reserve size in the presence of biological hot spots depends not only on the productive capacity of the reserve and the surrounding fishing grounds, but also on the degree of heterogeneity between the two regions.