Economic framework for decision making in biological control |
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| Institution: | 1. Department of Economics and Finance, University of Wyoming, United States;2. Department of Agricultural, Food, and Resource Economics, Michigan State University, United States;3. Yale School of Forestry and Environmental Studies, Yale University, United States;1. Space Research Institute RAS, Profsoyuznaya 84/32, Moscow 117997, Russia;2. Moscow Institute of Physics and Technology (MIPT), Institutsky per. 9, 141700 Dolgoprudny, Moscow Region, Russia;3. ESA/ESTEC, PB 299, 2200AG Noordwijk, The Netherlands;4. Max Planck Institute for Solar System Research, Justus-von-Liebig-Weg 3, 37077 Göttingen, Germany;1. Key Laboratory of Ecological Forestry Engineering, Institute of Ecology & Forestry, Sichuan Agricultural University, Chengdu 611130, China;2. Laboratory for Ecological Forecasting and Global Change, College of Forestry, Northwest A & F University, Yangling, Shaanxi 712100, China;3. Department of Biology Sciences, Institute of Environment Sciences, University of Quebec at Montreal, C.P. 8888, Succ. Centre-Ville, Montreal H3C 3P8, Canada |
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| Abstract: | Economic analyses are a valuable input into the decision-making process for biological control programs. The challenge though is how to incorporate qualitative risk assessments of biological control programs, or the risk of nontargeted effects into mathematical economic models. A technique known as threshold cost/benefit analysis is presented and an example on how to apply this method is illustrated using the yellow starthistle biological control program. The results show that incorporating uncertainty into the analysis can have a significant impact on the decision to undertake a biological control program. |
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