This paper presents the results of the first natural experiment in the stated preference literature that tests for the stability of environmental values in the event of a catastrophic natural disaster. Two subsequent choice experiment surveys were conducted in Southeast Queensland, a region of...

This study aims to provide an estimate of non-consumptive use and non-use values for controlling invasive pest species in Queensland’s bioregions. Bioregions are geologically and ecologically distinct land areas. Bioregion specific values are estimated to assist the development of landscape...

The aim of the study was to understand public understanding of biosecurity and provide an estimate of the non-consumptive use and non-use benefits to be derived from enhanced biosecurity measures in the Southeast Queensland region. A public survey was conducted there during January 2011 using...

Survey data from over 1,600 households in ten countries were used to analyse the determinants of residential water demand. Results show that in every country the price elasticity is negative and statistically significant. Households that do not have to pay for the water they use (volumetric...

We compare three parametric techniques to approximate Hamilton-Jacobi-Bellman equations via unidimensional and multidimensional problems. The linear programming technique is very efficient for unidimensional problems and offers a balance of speed and accuracy for multidimensional problems. A...

Policy makers are confronted daily with uncertainty, especially in complex areas like biosecurity. One way to improve decision-making and reduce uncertainties is to collect more information. Information is costly – whether the value of improved decision-making justifies the cost is a...

We use a bang-bang optimal control model to derive a rule of thumb for an optimal management of invasive weeds, in terms of the marginal benefits and costs of various control actions. Instead of determining the size of infestation under an optimal surveillance measure, the rule specifies the...

A stochastic bio-economic model is constructed to analyse the effects of marine reserve ‘switching’ between a ‘no take’ area and a harvested area. The model accounts for both market and non-market values of the fishery. Estimated parameters from the red throat emperor fishery from the...

Marine protected areas (MPA) potentially offer a wide range of use and non-use benefits. These include critical habitat protection, conservation of marine biodiversity, recovery of threatened and endangered marine species, and increased biomass of targeted marine species. To assess whether such...

The northern cod fishery was once one of the world’s largest capture fisheries. Using data from the fishery, this research calculated the economic value of a marine reserve using a stochastic optimal control model with a jump-diffusion process. The analysis shows that, an optimal-sized marine...