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Private Responses to Public Incentives for Invasive Species Management

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Author Info

  • Ranjan, Ram
  • Evans, Edward A.

Abstract

In this paper the impact of public policies such as subsidies and taxation on invasive species management is explored in a Markov chain process framework. Private agents react to public incentives based upon their long term expected profits and have the option of taking measures such as abatement, monitoring and reporting. Conditions for perverse incentives are derived. The impact of sequencing of taxation and subsides on spread of risks is explored. One key finding of this paper is that excessive regulation may sometimes exacerbate the invasive species problem

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File URL: http://purl.umn.edu/36802
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Bibliographic Info

Article provided by Caribbean Agro-Economic Society in its journal Farm and Business - The Journal of The Caribbean Agro-Economic Society.

Volume (Year): 7 (2007)
Issue (Month): 1 (June)
Pages:

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Handle: RePEc:ags:fabtho:36802

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Related research

Keywords: Invasive Species; Markov process; Perverse Incentives; Taxation and Subsidies; Agricultural and Food Policy; Agricultural Finance; Environmental Economics and Policy; Research Methods/ Statistical Methods;

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  1. 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.
  2. Geoffard, Pierre-Yves & Philipson, Tomas, 1997. "Disease Eradication: Private versus Public Vaccination," American Economic Review, American Economic Association, vol. 87(1), pages 222-30, March.
  3. Charles Perrings, 1998. "Resilience in the Dynamics of Economy-Environment Systems," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(3), pages 503-520, April.
  4. Chad Settle & Jason E Shogren, 2002. "Modeling Native-Exotic Species within Yellowstone Lake," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(5), pages 1323-1328.
  5. McAusland, Carol & Costello, Christopher, 2004. "Avoiding invasives: trade-related policies for controlling unintentional exotic species introductions," Journal of Environmental Economics and Management, Elsevier, vol. 48(2), pages 954-977, September.
  6. Lars J. Olson & Santanu Roy, 2002. "The Economics of Controlling a Stochastic Biological Invasion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(5), pages 1311-1316.
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