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Optimal Resource Management in the Presence of a Deleterious Alien Species

Author

Listed:
  • Amitrajeet A. Batabyal

    (Rochester Institute of Technology)

  • Peter Nijkamp

    (Vrije Universiteit Amsterdam)

Abstract

Various 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.

Suggested Citation

  • Amitrajeet A. Batabyal & Peter Nijkamp, 2007. "Optimal Resource Management in the Presence of a Deleterious Alien Species," Tinbergen Institute Discussion Papers 07-085/3, Tinbergen Institute.
    • Handle: RePEc:tin:wpaper:20070085
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    References listed on IDEAS

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    More about this item

    Keywords

    Alien Species; Long Run Expected Cost; Orchard Management; Uncertainty;
    All these keywords.

    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

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