Adaptive resource management and the value of information

Ecological Modelling
By: , and 

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Abstract

The value of information is a general and broadly applicable concept that has been used for several decades to aid in making decisions in the face of uncertainty. Yet there are relatively few examples of its use in ecology and natural resources management, and almost none that are framed in terms of the future impacts of management decisions. In this paper we discuss the value of information in a context of adaptive management, in which actions are taken sequentially over a timeframe and both future resource conditions and residual uncertainties about resource responses are taken into account. Our objective is to derive the value of reducing or eliminating uncertainty in adaptive decision making. We describe several measures of the value of information, with each based on management objectives that are appropriate for adaptive management. We highlight some mathematical properties of these measures, discuss their geometries, and illustrate them with an example in natural resources management. Accounting for the value of information can help to inform decisions about whether and how much to monitor resource conditions through time.

Additional publication details

Publication type Article
Publication Subtype Journal Article
Title Adaptive resource management and the value of information
Series title Ecological Modelling
DOI 10.1016/j.ecolmodel.2011.07.003
Volume 222
Issue 18
Year Published 2011
Language English
Publisher Elsevier
Contributing office(s) Coop Res Unit Leetown
Description 18 p.
First page 3429
Last page 3436
Online Only (Y/N) N
Additional Online Files (Y/N) N