IDEAS home Printed from https://ideas.repec.org/a/ags/arerjl/10189.html
   My bibliography  Save this article

A Dynamic Principal-Agent Model of Human-Mediated Aquatic Species Invasions

Author

Listed:
  • MacPherson, Alexander J.
  • Moore, Rebecca
  • Provencher, Bill

Abstract

This paper presents a dynamic principal-agent model of aquatic species invasions in which a manager, concerned about the spread of invasive species across lakes by boaters, sets interseasonal management controls on a lake-by-lake basis, and boaters make a series of intraseasonal trip decisions to maximize random utility during the course of the season, conditional on the controls imposed by the manager. The results of a simulated invasion of Eurasian watermilfoil (Myriophyllum spicatum) highlight interesting aspects of the optimal management policies under two different management objectives: maximizing boater welfare and minimizing milfoil spread.

Suggested Citation

  • MacPherson, Alexander J. & Moore, Rebecca & Provencher, Bill, 2006. "A Dynamic Principal-Agent Model of Human-Mediated Aquatic Species Invasions," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 35(1), April.
  • Handle: RePEc:ags:arerjl:10189
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/10189
    Download Restriction: no

    References listed on IDEAS

    as
    1. Haab, Timothy C. & Hicks, Robert L., 1997. "Accounting for Choice Set Endogeneity in Random Utility Models of Recreation Demand," Journal of Environmental Economics and Management, Elsevier, vol. 34(2), pages 127-147, October.
    2. Robert L. Hicks & Ivar E. Strand, 2000. "The Extent of Information: Its Relevance for Random Utility Models," Land Economics, University of Wisconsin Press, vol. 76(3), pages 374-385.
    3. Finnoff, David & Shogren, Jason F. & Leung, Brian & Lodge, David, 2005. "The importance of bioeconomic feedback in invasive species management," Ecological Economics, Elsevier, vol. 52(3), pages 367-381, February.
    4. George R. Parsons & Mary Jo Kealy, 1992. "Randomly Drawn Opportunity Sets in a Random Utility Model of Lake Recreation," Land Economics, University of Wisconsin Press, vol. 68(1), pages 93-106.
    5. Settle, Chad & Crocker, Thomas D. & Shogren, Jason F., 2002. "On the joint determination of biological and economic systems," Ecological Economics, Elsevier, vol. 42(1-2), pages 301-311, August.
    6. Feather Peter & Hellerstein Daniel & Tomasi Theodore, 1995. "A Discrete-Count Model of Recreational Demand," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 214-227, September.
    7. 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.
    8. George R. Parsons & Michael S. Needelman, 1992. "Site Aggregation in a Random Utility Model of Recreation," Land Economics, University of Wisconsin Press, vol. 68(4), pages 418-433.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Davis, Alison F. & Moeltner, Klaus, 2010. "Valuing the Prevention of an Infestation: The Threat of the New Zealand Mud Snail in Northern Nevada," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 39(1), February.
    2. Goodenberger, James & Klaiber, H. Allen, 2013. "Evading Invasives: How Eurasian Water-Milfoil Effects the Development of Lakefront Properties," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150309, Agricultural and Applied Economics Association.
    3. Goodenberger, James S. & Klaiber, H. Allen, 2016. "Evading invasives: How Eurasian watermilfoil affects the development of lake properties," Ecological Economics, Elsevier, vol. 127(C), pages 173-184.
    4. Fr├ęsard, Marjolaine & Ropars-Collet, Carole, 2014. "Sustainable harvest of a native species and control of an invasive species: A bioeconomic model of a commercial fishery invaded by a space competitor," Ecological Economics, Elsevier, vol. 106(C), pages 1-11.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:arerjl:10189. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/nareaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.