RT Journal Article
SR Electronic
T1 Safety in Numbers: Cost-effective Endangered Species Management for Viable Populations
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 435
OP 453
DO 10.3368/le.95.3.435
VO 95
IS 3
A1 Pierce Donovan
A1 Lucas S. Bair
A1 Charles B. Yackulic
A1 Michael R. Springborn
YR 2019
UL http://le.uwpress.org/content/95/3/435.abstract
AB We develop a bioeconomic model to identify the cost-effective control of an invasive species (rainbow trout) to achieve a population viability goal for an endangered species (humpback chub) in the Grand Canyon of the U.S. Southwest. Solving the population viability problem is difficult since avoiding a threshold with a given confidence imposes a probabilistic restriction on joint outcomes (survival) over many periods. We develop a novel dynamic programming solution approach that is fast and forgoes the simulation method requirement of imposing structure on the policy function. We also investigate an adaptive management model that incorporates learning about uncertain biological dynamics. (JEL Q22, Q57)