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- Title
Controlling a biological invasion: a non-classical dynamic economic model.
- Authors
Olson, Lars; Roy, Santanu
- Abstract
This paper analyzes the optimal intertemporal control of a biological invasion. The invasion growth function is non-convex and control costs depend on the invasion size, resulting in a non-classical dynamic optimization problem. We characterize the long run dynamic behavior of an optimally controlled invasion and the corresponding implications for public policy. Both control and the next-period invasion size may be non-monotone functions of the current invasion size; the related optimal time paths may not be monotone or convergent. We provide conditions under which eradication, maintenance control, and no control are optimal policies.
- Subjects
BIOLOGICAL invasions; MATHEMATICAL optimization; RENEWABLE natural resources; RESOURCE allocation; RESOURCE management; COST control
- Publication
Economic Theory, 2008, Vol 36, Issue 3, p453
- ISSN
0938-2259
- Publication type
Article
- DOI
10.1007/s00199-007-0281-0