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.
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Open Access This is an open access article distributed under the terms of the Creative Commons Attribution Noncommercial License ( https://creativecommons.org/licenses/by-nc/2.0 ), which permits any noncommercial use, distribution, and reproduction in any medium, provided the original author(s) and source are credited.
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Olson, L.J., Roy, S. Controlling a biological invasion: a non-classical dynamic economic model. Econ Theory 36, 453–469 (2008). https://doi.org/10.1007/s00199-007-0281-0
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DOI: https://doi.org/10.1007/s00199-007-0281-0
Keywords
- Intertemporal allocation
- Nonconvexities
- Biological invasion
- Invasive species
- Renewable resource economics