Guidance for evaluating the costs of invasive species and their control

Invasive alien species cause different types of costs and often need to be controlled. Given several available control measures, choosing the most profitable one is not straightforward, especially if one has no training in economic methodologies. This paper introduces a guidance to assist in economi...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Heikkilä, Jaakko, Kettunen, Marianne
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.2014
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Summary:Invasive alien species cause different types of costs and often need to be controlled. Given several available control measures, choosing the most profitable one is not straightforward, especially if one has no training in economic methodologies. This paper introduces a guidance to assist in economic evaluation of control measures. The first section sets out the basic information on the species, its impact, as well as on the methods available for its control. The second section deals with the actual assessment, first defining alternative scenarios, followed by a cost and benefit assessment, and a comparison of different scenarios.