1. Christopher Costello Associate Professor of Economics Bren School & Economics Renewable resources, biodiversity, uncertainty, dynamic optimization

2. What I do Background Teaching –Economics of Environmental Management –Environmental Modeling –PhD Seminar Ask an important question that is: –Interesting –Don’t know answer (identify the tension) –You can develop an approach for answering

3. Some “problems” I work on 1.Fisheries management – property rights, spatial externalities, optimal policies 2.Exotic species – trade, species damage, optimal policy response 3.Biodiversity conservation – cost effectiveness 4.Search – how much information gathering in research?

4. Some economic approaches 1.Decision making under uncertainty 2.Value of information 3.Bayesian statistics, learning, adaptation 4.Dynamic optimization

5. Renewable Resources Spatial bioeconomics –Are spatial closures optimal? How “close” will spatial property rights get us? Renewable resources under uncertainty –How optimize harvest in a variable environment? Concessions as a rights-based mechanism –Structure of tenure required to incentivize stewardship? Value of improved information –Which kinds of information have the most value?

6. Biodiversity/Exotic Species Introductions vs. Discoveries –Is the discovery record a good proxy for introductions? Partner-specific invasion risk –Empirically what are the risks? Use as a basis for partner-specific policy. Global supply curve for biodiversity? –TNC data, species area curve Bioprospecting as private-sector mechanism

7. Contact Information: Christopher Costello 4410 Bren Hall costello@bren.ucsb.edu 893-5802