The hidden costs of multi-use at sea

As ocean space increasingly is used for production purposes, such as for the production of food and feed, renewable energy and resource mining, competition for space becomes a concern. A spatial solution to this is to co-locate activities in a multi-use setting. Next to the direct (financial) costs...

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Bibliographic Details
Published inMarine policy Vol. 161; p. 106017
Main Authors Ciravegna, E., van Hoof, L., Frier, C., Maes, F., Rasmussen, H.B., Soete, A., van den Burg, S.W.K.
Format Journal Article
LanguageEnglish
Published Elsevier Ltd 01.03.2024
Subjects
Governance
Marine multi-use
Transaction costs
Governance
Transaction costs
Marine multi-use
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Summary:As ocean space increasingly is used for production purposes, such as for the production of food and feed, renewable energy and resource mining, competition for space becomes a concern. A spatial solution to this is to co-locate activities in a multi-use setting. Next to the direct (financial) costs and benefits of multi-use and the societal cost and benefits, there are other factors, in the realm of legal aspects, insurance, health and safety issues and the overall governance of multi-use, that determine whether multi-use can be implemented successfully. This includes transaction costs that arise when for example non-adequate regulation, governance and insurance schemes are in place. Based on the analysis of five case studies across Europe these combined/collective transaction costs of multi-use are analysed and suggestions how to reduce and/or overcome these transaction costs are presented.
ISSN:0308-597X
1872-9460
DOI:10.1016/j.marpol.2024.106017