Ong-term protection of an environmental resource
What types of data would need to be protected to address economic policy for long-term protection of an environmental resource? How would the data influence policy recommendations? (Consider the following case study)
A small island nation depends heavily on tourism for its economy and foreign reserves. Much of the tourism revolves around a coral reef system that attracts snorkelers, divers, and sport fishers (since the reef helps to support a robust fish population). However, the reefs are being degraded by overuse and illegal poaching and the local government has so far been ineffective in reversing the trend. They call in you as an environmental/resource economist to try to figure out a plan for reef protection that will provide the proper incentives for adequate long-term protection. Describe types of relevant data you would want to collect and how the results of your data collection would influence your recommendations. Be as specific as possible.