Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
985651 | Resource and Energy Economics | 2014 | 16 Pages |
Abstract
Monitoring is an important and costly activity in resource management problems such as containing invasive species, protecting endangered species, preventing soil erosion, and regulating contracts for environmental services. Recent studies have viewed optimal monitoring as a Partially Observable Markov Decision Process (POMDP), which provides a framework for sequential decision making under stochastic resource dynamics and uncertainty about the resource state. We present an overview of the POMDP framework and its applications to resource monitoring. We discuss the concept of the information content provided by monitoring systems and illustrate how information content affects optimal monitoring strategies. Finally, we demonstrate how the timing of monitoring in relation to resource treatment and transition can have substantial effects on optimal monitoring strategies.
Keywords
Related Topics
Physical Sciences and Engineering
Energy
Energy (General)
Authors
Paul L. Fackler, Robert G. Haight,