The International Union for the Conservation of Nature, a global environmental organization, lists approximately 1,200 marine species worldwide that are considered vulnerable, threatened, or at-risk of extinction. Many are provided legal protection through national laws requiring research and management measures aimed at recovering and maintaining the species at a sustainable population level. Integral to the policy decision process involving the management and recovery of marine species is the consideration of trade-offs between the economic and ecological costs and benefits of protection. This suggests that economics, at its core the study of trade-offs, has a significant role. In the U.S. a somewhat traditional use of economics in protected species research and management has involved cost minimization or cost-effectiveness analyses to help select or prioritize conservation actions.