3543166

2686

In this study we demonstrate how the notion of diversification can be used in broad-scale resource allocation for surveillance of invasive species. We consider the problem of short-term surveillance for an invasive species in a geographical environment. We find the optimal allocation of surveillance resources among multiple geographical subdivisions via application of a classical portfolio framework, which allocates investments among multiple financial asset types with uncertain returns in a portfolio that maximizes the performance and, by meeting the desired diversification targets, protects against errors in estimating the portfolioʹs performance. ustrate the approach with a case study that applies a spatial transmission model to assess the risk of spread of the emerald ash borer (EAB), a significant pest in North America, with infested firewood that may be carried by visitors to campground facilities in central Canada. Adding the diversification objective yields an expected survey performance that is comparable with undiversified optimal allocation, but more importantly, makes the geographical distribution of survey priorities less subject to possible errors in the spread rate estimates. Overall, diversification of pest surveillance can be viewed as a viable short-term strategy for hedging against uncertainty in expert- and model-based assessments of pest invasion risk.

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Surveillance , Portfolio variance , Portfolio Theory , Equal risk sharing , Emerald ash borer , diversification

Studia Iranica

72

72