Prioritising Biosecurity Investment between Protecting Agricultural and Environmental Systems
David C. Cook,
Rob W. Fraser (),
Jeffrey K. Waage and
Matthew B. Thomas
Studies in Economics from School of Economics, University of Kent
This paper is motivated by the observation that there is a difference between the time paths of damage valuations for invasions which affect agricultural compared with environmental systems. In particular, unlike agricultural systems, studies have shown that the social valuation of an environmental system is likely to be exponentially positively related to the extent of its deterioration. This paper explores the implications of this difference in determining biosecurity investment priorities. It is concluded that because of this difference an environmental system will often not be prioritised for such protection over an agricultural system even though its ultimate social value exceeds that of the agricultural system.
Keywords: Biosecurity; invasive species (search for similar items in EconPapers)
JEL-codes: Q51 Q57 Q58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr, nep-env and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:ukc:ukcedp:0908
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