Integration-Valuation Nexus in Invasive Species Policy

Jason Shogren, David Finnoff, Christopher McIntosh and Chad Settle

Agricultural and Resource Economics Review, 2006, vol. 35, issue 1, 11-20

Abstract: This paper reviews recent work examining two topics of economic research vital for invasive species policy—integration and valuation. Integration requires bioeconomic models that blend invasive biology with economic circumstances and the feedback loops between the two systems. Valuation requires nonmarket valuation associated with human and environmental damages posed by invasive species. We argue for a second-level of integration in invasive species economics—valuation based on integration models. Policy prescriptions based on integration models need valuation work; valuation surveys need integration models—the two are complements. Valuation could be enhanced with integration in mind; integration could be made better with valuation in mind. An example from blending the two research areas is presented and its merits demonstrated.

Date: 2006
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