Managing Invasive Species in the Presence of Endogenous Technological Change with Uncertainty

This research incorporates the development and adoption of an induced technology under uncertainty into a conceptual dynamic model to more broadly examine efficient policies for mitigating invasive species infestations. We find that under optimal policy, marginal costs of adopting conventional contr...

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Bibliographic Details
Published in:Risk analysis 2010-02, Vol.30 (2), p.250-260
Main Authors: Kim, C.S, Schaible, Glenn D, Lewandrowski, Jan, Vasavada, Utpal
Format: Article
Language:English
Subjects:
Adoption
Analysis
Animals
biological control
biological pest control measures
chemical control
chemical/mechanical control measures
comparative dynamic analysis
costs and returns
Dynamic models
Environmental management
induced technology
innovation adoption
Invasive species
Models, Theoretical
New technology
Nonnative species
Pest control
Policy making
Population
Public Policy
Research - economics
Risk management
Species
Studies
Technological change
Technology - economics
Technology adoption
Uncertainty
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Description
Summary:This research incorporates the development and adoption of an induced technology under uncertainty into a conceptual dynamic model to more broadly examine efficient policies for mitigating invasive species infestations. We find that under optimal policy, marginal costs of adopting conventional control measures are equal to the sum of the marginal benefits from development and adoption of new technology, as well as the use of conventional control measures. This result implies that a resource allocation designed for controlling invasive species is not adequate when an induced technology is not considered. Our results also reveal that the shadow values associated with the probabilities of developing and then adopting an induced technology increase as the shadow values associated with the stock of an invasive species population increase.
ISSN:0272-4332
1539-6924
DOI:10.1111/j.1539-6924.2009.01312.x