On Prevention and Control of an Uncertain Biological Invasion

University of Maryland Agricultural and Resource Economics Working Paper No. 05-02

15 Pages Posted: 3 Feb 2005

See all articles by Lars J. Olson

Lars J. Olson

University of Maryland - Department of Agricultural & Resource Economics

Santanu Roy

Southern Methodist University (SMU) - Department of Economics

Date Written: January 2005

Abstract

This paper examines how optimal prevention and control policies depend on the economic and biological characteristics of a randomly introduced biological invasion where the objective is to minimize the expected social costs from prevention, control, and invasion damages. The results characterize how optimal prevention and control policies vary with the initial invasion size, the invasion growth rate, and the probability distribution of introductions. The paper also examines the conditions under which the optimal policy relies solely on either prevention or control, the conditions under which it is optimal to completely prevent new introductions, and the conditions under which eradication of established invasions is optimal.

Keywords: Invasive species, prevention, control, uncertainty

JEL Classification: Q2, Q18

Suggested Citation

Olson, Lars J. and Roy, Santanu, On Prevention and Control of an Uncertain Biological Invasion (January 2005). University of Maryland Agricultural and Resource Economics Working Paper No. 05-02, Available at SSRN: https://ssrn.com/abstract=646861 or http://dx.doi.org/10.2139/ssrn.646861

Lars J. Olson (Contact Author)

University of Maryland - Department of Agricultural & Resource Economics ( email )

2200 Symons Hall
College Park, MD 20742-5535
United States
301-405-7180 (Phone)

Santanu Roy

Southern Methodist University (SMU) - Department of Economics ( email )

Dallas, TX 75275
United States

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