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Prioritizing Invasive Species Threats Under Uncertainty

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  • Moffitt, L. Joe
  • Osteen, Craig D.
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    Abstract

    Prioritizing exotic or invasive pest threats in terms of agricultural, environmental, or human health damages is an important resource allocation issue for programs charged with preventing or responding to the entry of such organisms. Under extreme uncertainty, program managers may decide to research the severity of threats, develop prevention or control actions, and estimate cost-effectiveness in order to provide better information and more options when making decisions to choose strategies for specific pests. We examine decision rules based on the minimax and relative cost criteria in order to express a cautious approach for decisions regarding severe, irreversible consequences, discuss the strengths and weaknesses of these rules, examine the roles of simple rules and sophisticated analyses in decision making, and apply a simple rule to develop a list of priority plant pests.

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    File URL: http://purl.umn.edu/10168
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    Bibliographic Info

    Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

    Volume (Year): 35 (2006)
    Issue (Month): 1 (April)
    Pages:

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    Handle: RePEc:ags:arerjl:10168

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    Web page: http://www.narea.org/
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    Related research

    Keywords: invasive species; decision criteria; uncertainty; Resource /Energy Economics and Policy;

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    1. Lapan, Harvey E. & Sandler, Todd, 1993. "Terrorism and signalling," European Journal of Political Economy, Elsevier, vol. 9(3), pages 383-397, August.
    2. Cauley, Jon & Im, Eric Iksoon, 1988. "Intervention Policy Analysis of Skyjackings and Other Terrorist Incidents," American Economic Review, American Economic Association, vol. 78(2), pages 27-31, May.
    3. Mark E. Eiswerth & G. Cornelis van Kooten, 2002. "Uncertainty, Economics, and the Spread of an Invasive Plant Species," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(5), pages 1317-1322.
    4. Camerer, Colin & Weber, Martin, 1992. " Recent Developments in Modeling Preferences: Uncertainty and Ambiguity," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 325-70, October.
    5. Kendrick, David A., 2005. "Stochastic control for economic models: past, present and the paths ahead," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 3-30, January.
    6. Lee, Dwight R, 1988. "Free Riding and Paid Riding in the Fight against Terrorism," American Economic Review, American Economic Association, vol. 78(2), pages 22-26, May.
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    Cited by:
    1. Chengyan Yue & Terrance M. Hurley & Neil Anderson, 2011. "Do native and invasive labels affect consumer willingness to pay for plants? Evidence from experimental auctions," Agricultural Economics, International Association of Agricultural Economists, vol. 42(2), pages 195-205, 03.

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