Post provided by Payal Bal and Jonathan Rhodes
Imagine you’re the manager of a national park. One that’s rich in endemic biodiversity found nowhere else on the planet. It’s under the influence of multiple human pressures causing irreversible declines in the biodiversity, possibly even leading to the extinction of some of the species. You’re working with a complex system of multiple species and threats, limited knowledge of which threats are causing the biggest declines and limited resources. How do you decide what course of action to take to conserve the biodiversity of the park? This is the dilemma faced by biodiversity managers across the globe.
In our recent paper, ‘Quantifying the value of monitoring species in multi‐species, multi‐threat systems’, we address this problem and propose a method using value of information (VOI) analysis. VOI estimates the benefit of monitoring for management decision-making. Specifically, it’s a valuation tool that can be used to disentangle the trade-offs in competing monitoring actions. It helps managers decide how to invest (or whether to invest) their money in monitoring actions when faced with imminent biodiversity declines and the urgency of efficient conservation action. Continue reading