Optimal Programs on Invasive Species Management under Growth Uncertainty and Measurement Error
Author
Koji Kotani Makoto Kakinaka Hiroyuki Matsuda
Year
2007
Abstract
The management programs for invasive species have been proposed in many regions. The resulting outcome on success or failure seems to be significantly affected by the degrees of multiple uncertainties, such as growth uncertainty and measurement error, associated with management practices. This study first examines the optimal policy on invasive species management under growth uncertainty, and then incorporates measurement error into the model. We find various novel results and discuss related policy implications that emanate from the interplays between two sources of the uncertainty. The corresponding values of the optimal programs are also examined.
