Optimal investment in prevention and control of a potential invader: the case of zebra mussels in Florida waterways

The probability of a severe infestation ranges from 2% to 98% depending on investment in monitoring, prevention, and response technology. Given the estimated potential for economic damages, preliminary results indicate that prudent investment in prevention and early response net a present value net...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Adams, Damian C, Lee, Donna J, Rossi, Frederick J
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.2007
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Summary:The probability of a severe infestation ranges from 2% to 98% depending on investment in monitoring, prevention, and response technology. Given the estimated potential for economic damages, preliminary results indicate that prudent investment in prevention and early response net a present value net return of $10 million over 20 years.