A Theoretical Analysis of Random Inspections and Fines in Invasive Species Management

Economics Bulletin, Vol. 17, No. 15, pp. 1-9, 2008

15 Pages Posted: 19 Sep 2008 Last revised: 20 Nov 2008

See all articles by Amitrajeet A. Batabyal

Amitrajeet A. Batabyal

Rochester Institute of Technology (RIT) - Department of Economics

Seung Jick Yoo

Korea Energy Economics Institute

Date Written: September 15, 2008

Abstract

In this paper, we conduct a theoretical analysis of inspections in a stochastic environment and we shed light on two hitherto unstudied issues concerning inspections in the context of invasive species management. First, given a particular port of entry in a country, we study the properties of a random inspection scheme. Second, we compute the average total fines that will be collected in the long run by an inspection agency that uses the above inspection scheme to screen arriving ships for the presence of one or more invasive species.

Keywords: Invasive Species, Fine, Random Inspection, Uncertainty

JEL Classification: Q580, C440

Suggested Citation

Batabyal, Amitrajeet A. and Yoo, Seung Jick, A Theoretical Analysis of Random Inspections and Fines in Invasive Species Management (September 15, 2008). Economics Bulletin, Vol. 17, No. 15, pp. 1-9, 2008, Available at SSRN: https://ssrn.com/abstract=1268482

Amitrajeet A. Batabyal (Contact Author)

Rochester Institute of Technology (RIT) - Department of Economics ( email )

92 Lomb Memorial Drive
Rochester, NY 14623-5604
United States
585-475-2805 (Phone)
585-475-5777 (Fax)

HOME PAGE: http://people.rit.edu/aabgsh

Seung Jick Yoo

Korea Energy Economics Institute ( email )

665-1 Naeson2-dong
Euiwang-si
Kyunggi-Do 437-082
Korea

HOME PAGE: http://www.rit.edu/~aabgsh/

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