Veterinary Preventive Medicine, Epidemiology, and Public Health Commons^™

Optimal R&D Investment In The Management Of Invasive Species, William Haden Chomphosy, Dale T. Manning, Stephanie A. Shwiff, Stephan Weiler

United States Department of Agriculture Wildlife Services: Staff Publications

Invasive alien species (IAS) threaten world biodiversity, ecosystem services, and economic welfare. While existing literature has characterized the optimal control of an established IAS, it has not considered how research and development (R&D) into new removal methods or technologies can affect management decisions and costs over time. R&D can lower the costs of control in a management plan and creates an intertemporal trade-off between quick but costly control and gradual but cheaper removal over time. In this paper, we develop and solve a continuous time dynamic optimization model to study how investment in R&D influences the optimal control of an …