Once established, invasive species can rapidly and irreversibly alter ecosystems and degrade the value of ecosystem services. Optimal control of an unwanted species solves for
Economics can clarify the discussion on invasive species in at least three ways. First is through the use of incentives to change human behavior so
This paper develops a theoretical model for the efficient establishment of economic policy pertaining to invasive species, integrating prevention and control of invasive species into
Imperfect scientific information regarding potential invasiveness, differences between private and public outcomes for individual decisions regarding planting, and inadequate prevention activity combine to impose costs
The one-demand Hotelling model fails to explain the observed specialization of non-renewable resources. We develop a model with multiple demands and resources to show that
Mitigating the harmful effects of development projects and industries (negative environmentalism) is inadequate, especially in resource-dependent economies whose resources are at risk from other forces.
The threat of invasive species stems from their ability to rapidly and irreversibly change ecosystems and degrade the value of ecosystem services. Optimal control of
Invasive species change ecosystems and the economic services such ecosystems provide. Optimal policy will minimize the expected damages and costs of prevention and control. We