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Estimating the Value of Invasive Aquatic Plant Control: A Bioeconomic Analysis of 13 Public Lakes in Florida

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  • Adams, Damian C.
  • Lee, Donna J.

Abstract

We present a bioeconomic model of three invasive aquatic plants (hydrilla, water hyacinth, and water lettuce) in 13 large Florida lakes, and simulate one-year and steady-state impacts of three control scenarios. We estimate that the steady-state annual net benefit of invasive plant control is $59.95 million. A one-year increase in control yields steady-state gains of $6.55 million per year, and a one-year lapse causes steady-state annual losses of $18.71 million. This model shows that increased control of hydrilla, water hyacinth, and water lettuce is optimal.

Suggested Citation

  • Adams, Damian C. & Lee, Donna J., 2007. "Estimating the Value of Invasive Aquatic Plant Control: A Bioeconomic Analysis of 13 Public Lakes in Florida," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 39(Special), October.
    • Handle: RePEc:ags:joaaec:37139
    DOI: 10.22004/ag.econ.37139
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    1. Damian C. Adams & Andres Susaeta & Jose R. Soto & Frederick Rossi & Paloma Carton Grammont & William A. Messina & Frank H. Koch & Demian Gomez & Jiri Hulcr, 2020. "A bioeconomic model for estimating potential economic damages from a hypothetical Asian beetle introduced via future trade with Cuba," Journal of Bioeconomics, Springer, vol. 22(1), pages 33-58, April.
    2. Dalmazzone, Silvana & Giaccaria, Sergio, 2014. "Economic drivers of biological invasions: A worldwide, bio-geographic analysis," Ecological Economics, Elsevier, vol. 105(C), pages 154-165.
    3. Mekdes Dessie & Dawit Moges & Getachew Mekonnen, 2018. "Economic Valuation of Parthenium Weed Control Measures, in Gurage Zone, SNNPR of Ethiopia," Current Investigations in Agriculture and Current Research, Lupine Publishers, LLC, vol. 4(5), pages 600-607, September.
    4. George Marbuah & Ing-Marie Gren & Kristina Tattersdill & Brendan G. McKie, 2019. "Management of an Aquatic Invasive Weed with Uncertain Benefits and Damage Costs: The Case of Elodea Canadensis in Sweden," Water Economics and Policy (WEP), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 1-26, July.
    5. Damian Adams & Donna Lee, 2012. "Technology adoption and mitigation of invasive species damage and risk: application to zebra mussels," Journal of Bioeconomics, Springer, vol. 14(1), pages 21-40, April.
    6. Lee, Donna J. & Adams, Damian C. & Kim, C.S., 2009. "Managing invasive plants on public conservation forestlands: Application of a bio-economic model," Forest Policy and Economics, Elsevier, vol. 11(4), pages 237-243, July.
    7. Adams, Damian C. & Bwenge, Anafrida N. & Lee, Donna J. & Larkin, Sherry L. & Alavalapati, Janaki R.R., 2011. "Public preferences for controlling upland invasive plants in state parks: Application of a choice model," Forest Policy and Economics, Elsevier, vol. 13(6), pages 465-472, July.
    8. Giaccaria Sergio & Dalmazzone Silvana, 2010. "Socio-economic drivers of biological invasions. A worldwide, bio-geographical analysis of trade flows and local environmental quality," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201003, University of Turin.

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