An ounce of prevention or a pound of cure: bioeconomic risk analysis of invasive species

TLDR

The number of non‑indigenous species is rising worldwide, causing environmental and economic damage, yet rigorous quantitative risk‑analysis frameworks for invasive species are lacking, as illustrated by the US Fish and Wildlife Service’s 2001 expenditure of US$825 000 to manage all aquatic invaders in US lakes. The study aims to evaluate risks from invasive species and quantify the relative merits of different management strategies, particularly resource allocation between prevention and control. The authors develop a quantitative bioeconomic model that identifies optimal resource allocation between prevention and control, acceptable invasion risks, and the economic consequences of invasion on labour and capital. Applied to zebra mussels, the model indicates that society could benefit from investing up to US$324 000 per year to prevent invasions into a single lake with a power plant, supporting the conclusion that greater investment in prevention is warranted.

Abstract

Numbers of non-indigenous species--species introduced from elsewhere - are increasing rapidly worldwide, causing both environmental and economic damage. Rigorous quantitative risk-analysis frameworks, however, for invasive species are lacking. We need to evaluate the risks posed by invasive species and quantify the relative merits of different management strategies (e.g. allocation of resources between prevention and control). We present a quantitative bioeconomic modelling framework to analyse risks from non-indigenous species to economic activity and the environment. The model identifies the optimal allocation of resources to prevention versus control, acceptable invasion risks and consequences of invasion to optimal investments (e.g. labour and capital). We apply the model to zebra mussels (Dreissena polymorpha), and show that society could benefit by spending up to US$324 000 year(-1) to prevent invasions into a single lake with a power plant. By contrast, the US Fish and Wildlife Service spent US$825 000 in 2001 to manage all aquatic invaders in all US lakes. Thus, greater investment in prevention is warranted.