Economics in wildlife damage management studies: Common problems and some solutions
- Author(s): Shwiff, Stephanie A.
- et al.
Benefit-cost analysis (BCA) has become a highly useful economic tool to evaluate research and operational efforts in wildlife damage management. At the same time, common problems with BCA can be noted in these studies. These problems include: the absence of present value calculations, the misuse of market vs. non-market valuations, and the improper accounting of benefits and costs. Solutions to these problems are relatively simple but are imperative to the accuracy of the results. This paper outlines a number of common errors in BCA and offers solutions that enhance the use of economics in wildlife damage management studies.