A Toolkit for the Economic Analysis of Invasive Species

Abstract

Although it is now widely acknowledged that economic analysis and the use of economic instruments are key to dealing with the problems associated with biological invasions, there remains little guidance as to how economic approaches and tools should be applied in practice. Invasive species have many unique and unusual characteristics which set them apart from other environmental and land use issues, meaning that analysis does not lend itself easily to conventional economic models. A more innovative and thoughtful approach is thus required, which is tailored to the specific issues, problems and features of invasives. Economic analysis needs also to be targeted to providing practical and policy-relevant techniques and information which can be used to support and inform real-world policy, planning and management.