A Dynamic Principal-Agent Model of Human-Mediated Aquatic Species Invasions

This paper presents a dynamic principal-agent model of aquatic species invasions in which a manager, concerned about the spread of invasive species across lakes by boaters, sets interseasonal management controls on a lake-by-lake basis, and boaters make a series of intraseasonal trip decisions to maximize random utility during the course of the season, conditional on the controls imposed by the manager. The results of a simulated invasion of Eurasian watermilfoil (Myriophyllum spicatum) highlight interesting aspects of the optimal management policies under two different management objectives: maximizing boater welfare and minimizing milfoil spread.


Issue Date:
2006-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/10189
Published in:
Agricultural and Resource Economics Review, Volume 35, Number 1
Page range:
144-154
Total Pages:
11




 Record created 2017-04-01, last modified 2017-08-23

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