Value of information and monitoring in conservation biology

Mark Colyvan ()
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Mark Colyvan: University of Sydney

Environment Systems and Decisions, 2016, vol. 36, issue 3, 302-309

Abstract: Abstract In this paper we consider uses of value of information studies in conservation biology. It is a common assumption that more and better quality data will lead to better conservation management decisions. Indeed, this assumption lies behind, and motivates, a great deal of current work in conservation biology. Of course, more data can lead to better decisions in some cases but decision-theoretic models of the value of information show that this need not always be the case: sometimes the cost of data collection is too high. While such value of information studies are well known in economics and decision theory circles, their applications in conservation biology are relatively new. These studies are a valuable tool for conservation management, and we outline some of the potential applications. We also offer some advice about, and problems with, implementing value of information studies in conservation settings.

Keywords: Decision theory; Value of information; Game theory; Conservation decisions; Monitoring (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10669-016-9603-8

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