An options based bioeconomic model for biological and chemical control of invasive species

► We apply stochastic dynamic programming to integrated pest management for invasives. ► We allow the pest and introduced predator populations to evolve stochastically. ► Our case study is a program to control hemlock wooly adelgid in public forests. ► Depending on conditions it is optimal to use chemical, biological, or both controls. ► Early detection and effective biological control significantly improve net benefits.