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Controlling a biological invasion: a non-classical dynamic economic model

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  • Lars Olson
  • Santanu Roy

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  • Lars Olson & Santanu Roy, 2008. "Controlling a biological invasion: a non-classical dynamic economic model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(3), pages 453-469, September.
    • Handle: RePEc:spr:joecth:v:36:y:2008:i:3:p:453-469
    DOI: 10.1007/s00199-007-0281-0
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    References listed on IDEAS

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    1. Benveniste, L M & Scheinkman, J A, 1979. "On the Differentiability of the Value Function in Dynamic Models of Economics," Econometrica, Econometric Society, vol. 47(3), pages 727-732, May.
    2. W. Davis Dechert & Kazuo Nishimura, 2012. "A Complete Characterization of Optimal Growth Paths in an Aggregated Model with a Non-Concave Production Function," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 237-257, Springer.
    3. Olson, Lars J. & Roy, Santanu, 1996. "On Conservation of Renewable Resources with Stock-Dependent Return and Nonconcave Production," Journal of Economic Theory, Elsevier, vol. 70(1), pages 133-157, July.
    4. Nyarko, Yaw & Olson, Lars J, 1994. "Stochastic Growth When Utility Depends on Both Consumption and the Stock Level," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(5), pages 791-797, August.
    5. Olson, Lars J. & Roy, Santanu, 2003. "The Economics Of Controlling A Biological Invasion," Working Papers 28591, University of Maryland, Department of Agricultural and Resource Economics.
    6. Mirman, Leonard J. & Zilcha, Itzhak, 1975. "On optimal growth under uncertainty," Journal of Economic Theory, Elsevier, vol. 11(3), pages 329-339, December.
    7. 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.
    8. Majumdar, Mukul & Mitra, Tapan, 1994. "Periodic and Chaotic Programs of Optimal Intertemporal Allocation in an Aggregative Model with Wealth Effects," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(5), pages 649-676, August.
    9. Majumdar, Mukul & Mitra, Tapan, 1982. "Intertemporal allocation with a non-convex technology: The aggregative framework," Journal of Economic Theory, Elsevier, vol. 27(1), pages 101-136, June.
    10. Tapan Mitra & Santanu Roy, 2006. "Optimal exploitation of renewable resources under uncertainty and the extinction of species," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 28(1), pages 1-23, May.
    11. Ken-ichi Inada, 1963. "On a Two-Sector Model of Economic Growth: Comments and a Generalization," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 30(2), pages 119-127.
    12. Michael Kopel & Herbert Dawid, 1999. "On optimal cycles in dynamic programming models with convex return function," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 309-327.
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    Citations

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    Cited by:

    1. Jardine, Sunny L. & Sanchirico, James N., 2018. "Estimating the cost of invasive species control," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 242-257.
    2. Anderson, Soren T. & Laxminarayan, Ramanan & Salant, Stephen W., 2012. "Diversify or focus? Spending to combat infectious diseases when budgets are tight," Journal of Health Economics, Elsevier, vol. 31(4), pages 658-675.
    3. Melstrom, Richard T., 2014. "Managing apparent competition between the feral pigs and native foxes of Santa Cruz Island," Ecological Economics, Elsevier, vol. 107(C), pages 157-162.
    4. Kling, David M. & Sanchirico, James N. & Fackler, Paul L., 2017. "Optimal monitoring and control under state uncertainty: Application to lionfish management," Journal of Environmental Economics and Management, Elsevier, vol. 84(C), pages 223-245.
    5. Homans, Frances & Horie, Tetsuya, 2011. "Optimal detection strategies for an established invasive pest," Ecological Economics, Elsevier, vol. 70(6), pages 1129-1138, April.
    6. Florec, Veronique & Sadler, Rohan J. & White, Ben & Dominiak, Bernie C., 2013. "Choosing the battles: The economics of area wide pest management for Queensland fruit fly," Food Policy, Elsevier, vol. 38(C), pages 203-213.
    7. Marten, Alex L. & Moore, Christopher C., 2011. "An options based bioeconomic model for biological and chemical control of invasive species," Ecological Economics, Elsevier, vol. 70(11), pages 2050-2061, September.
    8. Liu, Yanxu & Sims, Charles, 2016. "Spatial-dynamic externalities and coordination in invasive species control," Resource and Energy Economics, Elsevier, vol. 44(C), pages 23-38.
    9. Sims, Charles & Finnoff, David, 2013. "When is a “wait and see” approach to invasive species justified?," Resource and Energy Economics, Elsevier, vol. 35(3), pages 235-255.
    10. Epanchin-Niell, Rebecca S. & Liebhold, Andrew M., 2015. "Benefits of invasion prevention: Effect of time lags, spread rates, and damage persistence," Ecological Economics, Elsevier, vol. 116(C), pages 146-153.
    11. Olson, Lars J. & Roy, Santanu, 2010. "Dynamic sanitary and phytosanitary trade policy," Journal of Environmental Economics and Management, Elsevier, vol. 60(1), pages 21-30, July.
    12. Haden Chomphosy, William & Manning, Dale T. & Shwiff, Stephanie & Weiler, Stephan, 2023. "Optimal R&D investment in the management of invasive species," Ecological Economics, Elsevier, vol. 211(C).

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    More about this item

    Keywords

    Intertemporal allocation; Nonconvexities; Biological invasion; Invasive species; Renewable resource economics; D9; Q2;
    All these keywords.

    JEL classification:

    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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