Optimal Bioeconomic Management Strategies for Prevention and Control of Invasive Alien Species

Shefali V. Mehta, Frances Homans, Robert G. Haight and Stephen Polasky

No 19505, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Invasive species constitute a major economic and ecological threat. They produce billions of dollars in damages annually and are considered on of the top five factors causing the loss of biodiversity. Hence the prevention, control and elimination of invasive species are major objectives for government agencies. While ecological and biological research can identify effective treatment measures, the implementation of these methods is inevitably limited by fiscal constraints. Thus, ecological data needs to be incorporated into economic cost-minimization models to find the optimal balance of alternative approaches subject to budget limitations. We present a stochastic dynamic optimization model that analyzes the optimal choices for invasive species management: the optimal levels of search intensity to detect established species and the optimal degree of control of a detected species. The model illustrates how the optimal strategy for a single species depends on the interactions among three factors: the speed of the invasive species invasion, the distributions of random biological processes, and the specific parameters pertaining to that species.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 16
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19505

DOI: 10.22004/ag.econ.19505

Access Statistics for this paper

More papers in 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().