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Research Interests for Martin D. Smith

Research Interests: natural resource economics

Professor Smith earned his PhD in Agricultural and Resource Economics from the University of California at Davis and joined the Duke faculty in 2001. He is an associate editor of Marine Resource Economics. His research focuses on spatial issues in natural resource use and management with a particular emphasis on the economics of marine resources. Combining econometric analysis of individual resource use decisions with bioeconomic modeling, he strives to understand human impacts on the resource base and the dynamics of these coupled human-natural systems.

Animals, Genetically Modified, Aquaculture, Bioeconomics, Climate adaptation, Climate Change, Conservation of Natural Resources, Coupled human and natural system, Dietary Proteins, Econometrics, Ecosystem, Environmental economics, Fish Products, Fisheries, Food, Genetically Modified, Malnutrition, Marine policy, Optimal control theory, Population Dynamics, Public Health, Seafood
Current projects:
evaluating the economic impacts of marine reserves for fisheries management
analyzing behavioral heterogeneity and dynamic decision-making of individual commercial fishermen
using portfolio theory to guide ecosystem-based management of fisheries
estimating the costs of estuarine pollution with a bioeconomic predator-prey model
empirical modeling of beach nourishment decisions and the dynamics of coastline change
Areas of Interest:

behavioral economics
discrete choice econometrics
spatial modeling and econometrics

Representative Publications   (search)
  1. Smith, MD, The New Fisheries Economics: Incentives Across Many Margins, Annual Review of Resource Economics, vol. 4 no. 1 (2012), pp. 379-+, ANNUAL REVIEWS, ISSN 1941-1340 [Gateway.cgi], [doi]
  2. M.D. Smith, Review of Fisheries Management: Pandemic Failure and Workable Solutions (by Giulio Pontecorvo and William Schrank., Emerald Group Publishing, Bingley UK 2009), International Journal of Maritime History, vol. 22 (2010), pp. 351-52,
  3. Huang, L. and M.D. Smith, The Dynamic Efficiency Costs of Common-pool Resource Exploitation (Submitted, 2010)
  4. Asche, F. and M.D. Smith, Trade and Fisheries: Key Issues for the World Trade Organization (2009) (Technical Report Commissioned by the WTO, 61 pp..)
  5. Klonsky, K; Smith, MD, Entry and exit in California's organic farming sector, in Economics of Pesticides, Sustainable Food Production and Organic Food Markets, Advances in the Economics of Environmental Resources, edited by D.C. Hall & L.J. Moffitt, Advances in the Economics of Environmental Resources, vol. 4 (December, 2002), pp. 139-165, New York: Elsevier Science, ISSN 1569-3740 [abs]
  6. Williams, Z.C., D. McNamara, S. Gopalakrishnan, M.D. Smith, and A.B. Murray, A Coupled Economic-Coastline Model Modeling with Free Riders and Suckers, J Geophys Res (2013)
  7. Tveterås, S., F. Asche, M.F. Bellemare, M.D. Smith, A.G. Guttormsen, A. Lem, K. Lien, S. Vannuccini, Fish Is Food - The FAO Fish Price Index, PLoS ONE, vol. 7(5): e36731 (2012) [journal.pone.0036731]
  8. L.S. Bennear, M.D. Smith, Success or Selection? An economic perspective on fisheries co-management (2011)
  9. M.D. Smith, Review of Climate Change and the Economics of the World’s Fisheries: Examples of Small Pelagic Stocks (Edited by Rögnvaldur Hannesson, Manuael Barange, and Samuel F. Herrick Jr., Northhampton, MA: Edward Elgar, 2006), International Journal of Maritime History (2007) (19:476-78.)
  10. Smith, MD, Reflections on Marine Resource Economics: Editor’s Introduction, Marine Resource Economics, vol. 27 no. 3 (September, 2012), pp. 197-201, University of Chicago Press, ISSN 0738-1360 [Gateway.cgi], [doi]
  11. Smith, MD; Gopalakrishnan, S, Prices and Quantities to Control Overfishing (July, 2011) [abs]
  12. A.B. Murray, S. Gopalakrishnan, D. McNamara, M.D. Smith, Progress in Coupling Models of Human and Coastal Landscape Change, Computers & Geosciences (Accepted, 2011)
  13. M.D. Smith, Review of The Economics of Conserving Wildlife and Natural Areas (by C. Tisdell),, Australian Journal of Agricultural and Resource Economics, vol. 47 no. 3 (2003), pp. 418-420
  14. Smith, M.D., F. Asche, L.S. Bennear, E. Havice, A.J. Read, and D. Squires, A catch share for whales is unlikely to improve social welfare, Ecol Appl (Submitted, 2013)
  15. Huang, L; Nichols, LAB; Craig, JK; Smith, MD, Measuring welfare losses from hypoxia: The case of North Carolina brown shrimp, Marine Resource Economics, vol. 27 no. 1 (March, 2012), pp. 3-23, University of Chicago Press, ISSN 0738-1360 [doi[abs]
  16. Squires, D. K. Carden, A. Khan, M.D. Smith, and N. Vestergaard, Rethinking Marine Conservation from Solving the Commons Problem to Provision of Impure Public Goods (Submitted, 2013)
  17. Asche, F; Bennear, LS; Oglend, A; Smith, MD, U.S. shrimp market integration, Marine Resource Economics, vol. 27 no. 2 (June, 2012), pp. 181-192, University of Chicago Press, ISSN 0738-1360 [doi[abs]
  18. Klinger, DH; Turnipseed, M; Anderson, JL; Asche, F; Crowder, LB; Guttormsen, AG; Halpern, BS; O'Connor, MI; Sagarin, R; Selkoe, KA; Shester, GG; Smith, MD; Tyedmers, P, Moving beyond the fished or farmed dichotomy, Marine Policy, vol. 38 (January, 2013), pp. 369-374, ISSN 0308-597X [doi[abs]
  19. Conrad, JM; Smith, MD, Nonspatial and spatial models in bioeconomics, Natural Resource Modeling, vol. 25 no. 1 (February, 2012), pp. 52-92, WILEY, ISSN 0890-8575 [doi[abs]
  20. Zhang, J; Smith, MD, Estimation of a generalized fishery model: A two-stage approach, The Review of Economics and Statistics, vol. 93 no. 2 (2011), pp. 690-699, MIT Press - Journals, ISSN 0034-6535 [REST_a_00075], [doi[abs]
  21. Gopalakrishnan, S; Smith, MD; Slott, JM; Murray, AB, The Value of Disappearing Beaches: A Hedonic Model with Endogenous Beach Width, Journal of Environmental Economics and Management, vol. 61 no. 3 (2011), pp. 297-310, ISSN 0095-0696 [S0095069610001221], [doi[abs]
  22. McNamara, DE; Murray, BA; Smith, MD, Coastal sustainability depends on how economic and coastline responses to climate change affect each other, Geophysical Research Letters, vol. 38 no. 7 (April, 2011), pp. n/a-n/a, American Geophysical Union (AGU), ISSN 0094-8276 [doi[abs]
  23. Huang, L; Smith, MD, Management of an annual fishery in the presence of ecological stress: The case of shrimp and hypoxia, Ecological Economics, vol. 70 no. 4 (February, 2011), pp. 688-697, Elsevier BV, ISSN 0921-8009 [doi[abs]
  24. Zhang, J; Smith, MD, Heterogeneous Response to Marine Reserve Formation: A Sorting Model approach, Environmental and Resource Economics, vol. 49 no. 3 (January, 2011), pp. 311-325, Springer Nature, ISSN 0924-6460 [00009434], [doi[abs]
  25. Smith, MD; Crowder, LB, Valuing ecosystem services with fishery rents: A lumped-parameter approach to hypoxia in the neuse river estuary, Sustainability, vol. 3 no. 11 (December, 2011), pp. 2229-2267, MDPI AG, ISSN 2071-1050 [pdf], [doi[abs]
  26. Lazarus, ED; McNamara, DE; Smith, MD; Gopalakrishnan, S; Murray, AB, Emergent behavior in a coupled economic and coastline model for beach nourishment, Nonlinear Processes in Geophysics, vol. 18 no. 6 (December, 2011), pp. 989-999, Copernicus GmbH, ISSN 1023-5809 [Gateway.cgi], [doi[abs]
  27. Smith, MD; Asche, F; Guttormsen, AG; Wiener, JB, Food safety. Genetically modified salmon and full impact assessment., Science, vol. 330 no. 6007 (November, 2010), pp. 1052-1053 [21097923], [doi]
  28. Smith, MD; Roheim, CA; Crowder, LB; Halpern, BS; Turnipseed, M; Anderson, JL; Asche, F; Bourillón, L; Guttormsen, AG; Khan, A; Liguori, LA; McNevin, A; O'Connor, MI; Squires, D; Tyedmers, P; Brownstein, C; Carden, K; Klinger, DH; Sagarin, R; Selkoe, KA, Economics. Sustainability and global seafood., Science, vol. 327 no. 5967 (February, 2010), pp. 784-786 [20150469], [doi]
  29. Smith, MD; Lynham, J; Sanchirico, JN; Wilson, JA, Political economy of marine reserves: understanding the role of opportunity costs., Proc Natl Acad Sci U S A, vol. 107 no. 43 (October, 2010), pp. 18300-18305 [20133732], [doi[abs]
  30. Smith, MD, Toward an econometric foundation for marine ecosystem-based management, Bulletin of Marine Science, vol. 86 no. 2 (April, 2010), pp. 461-477, ISSN 0007-4977 [abs]
  31. Huang, L; Smith, MD; Craig, JK, Quantifying the Economic Effects of Hypoxia on a Fishery for Brown Shrimp Farfantepenaeus aztecus, Marine and Coastal Fisheries, vol. 2 no. 1 (December, 2010), pp. 232-248, WILEY, ISSN 1942-5120 [Gateway.cgi], [doi[abs]
  32. Smith, MD; Sanchirico, JN; Wilen, JE, The economics of spatial-dynamic processes: Applications to renewable resources, Journal of Environmental Economics and Management, vol. 57 no. 1 (2009), pp. 104-121, Elsevier BV, ISSN 0095-0696 [001], [doi[abs]
  33. Smith, MD; Slott, JM; McNamara, D; Murray, AB, Beach nourishment as a dynamic capital accumulation problem, Journal of Environmental Economics and Management, vol. 58 no. 1 (2009), pp. 58-71, Elsevier BV, ISSN 0095-0696 [doi[abs]
  34. Sanchirico, JN; Smith, MD; Lipton, DW, An empirical approach to ecosystem-based fishery management, Ecological Economics, vol. 64 no. 3 (January, 2008), pp. 586-596, Elsevier BV, ISSN 0921-8009 [pdf], [doi[abs]
  35. Smith, MD; Wilen, JE, Correlated Risk Preferences and Behavior of Commercial Fishermen: The Perfect Storm/Dilemma, The Journal of Risk and Uncertainty, vol. 31 no. 1 (2005), pp. 53-71 [risk.pdf]
  36. Smith, MD; Zhang, J; Coleman, FC, Econometric modeling of fisheries with complex life histories: Avoiding biological management failures, Journal of Environmental Economics and Management, vol. 55 no. 3 (May, 2008), pp. 265-280, Elsevier BV, ISSN 0095-0696 [003], [doi[abs]
  37. Slott, J; Smith, MD; Murray, AB, Synergies between adjacent beach-nourishing communities in a morpho-economic coupled coastline model, Coastal Management, vol. 36 no. 4 (December, 2008), pp. 374-391, Informa UK Limited, ISSN 0892-0753 [doi[abs]
  38. Smith, MD, Bioeconometrics: Empirical modeling of bioeconomic systems, Marine Resource Economics, vol. 23 no. 1 (January, 2008), pp. 1-23, University of Chicago Press, ISSN 0738-1360 [doi[abs]
  39. Liese, C; Smith, MD; Kramer, RA, Open access in a spatially delineated artisanal fishery: The case of Minahasa, Indonesia, Environment and Development Economics, vol. 12 no. 1 (2007), pp. 123-143, Cambridge University Press (CUP), ISSN 1355-770X [repository], [doi[abs]
  40. Smith, MD, Generating value in habitat-dependent fisheries: The importance of fishery management institutions, Land Economics, vol. 83 no. 1 (2007), pp. 59-73, University of Wisconsin Press, ISSN 0023-7639 [pdf], [doi[abs]
  41. Smith, MD; Zhang, J; Coleman, FC, Structural modeling of marine reserves with Bayesian estimation, Marine Resource Economics, vol. 22 no. 2 (January, 2007), pp. 121-136, University of Chicago Press [pdf], [doi[abs]
  42. Smith, MD; Zhang, J; Coleman, FC, Effectiveness of marine reserves for large-scale fisheries management, Canadian Journal of Fisheries and Aquatic Sciences, vol. 63 no. 1 (2006), pp. 153-164, Canadian Science Publishing, ISSN 0706-652X [et%20al%20Effectiveness%20Marine%20Reserves%20CJFAS%202006.pdf], [doi[abs]
  43. Smith, MD, State dependence and heterogeneity in fishing location choice, Journal of Environmental Economics and Management, vol. 50 no. 2 (September, 2005), pp. 319-340, Elsevier BV [pdf], [doi[abs]

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