Optimal Resource Management in the Presence of a Deleterious Alien Species
AbstractVarious plants and resources such as orchards are vulnerable to the detrimental effects of successful invasions by alien animal or plant species. To outline an appropriate policy response, we first use renewal theory to construct a stochastic model of optimal orchard management in the presence of a deleterious alien species. Next, we derive the orchard manager’s long run expected cost (LREC) of orchard management per unit time. Finally, we show that when confronted with a successful biological invasion, the optimal number of trees that need to be removed and replanted in order to keep the orchard under study sustainable in the long run minimizes the LREC function mentioned above.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 07-085/3.
Date of creation: 06 Nov 2007
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Alien Species; Long Run Expected Cost; Orchard Management; Uncertainty;
Find related papers by JEL classification:
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
- C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
This paper has been announced in the following NEP Reports:
- NEP-AGR-2008-02-23 (Agricultural Economics)
- NEP-ALL-2008-02-23 (All new papers)
- NEP-ENV-2008-02-23 (Environmental Economics)
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