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Tao Peng and Seung Jick Yoo
''A theoretical analysis of random inspections and fines in invasive species management''
( 2008, Vol. 17 No.15 )
In this paper, we conduct a theoretical analysis of inspections in a stochastic environment and we shed light on two hitherto unstudied issues concerning inspections in the context of invasive species management. First, given a particular port of entry in a country, we study the properties of a random inspection scheme. Second, we compute the average total fines that will be collected in the long run by an inspection agency that uses the above inspection scheme to screen arriving ships for the presence of one or more invasive species.
Keywords: Invasive Species
JEL: Q2 - Renewable Resources and Conservation: General
Manuscript Received : Sep 15 2008 Manuscript Accepted : Sep 15 2008

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