Harnessing value of Information theory to prevent species extinctions. This project aims to identify the costs needed to halt species extinction, addressing current discrepancies in funding estimates,

Description

Harnessing value of Information theory to prevent species extinctions. This project aims to identify the costs needed to halt species extinction, addressing current discrepancies in funding estimates, that vary considerably. Using cutting-edge methods from economics, Value of Information principles, and systematic conservation planning, we will resolve the uncertainty in estimated costs associated with safeguarding species. Expected outcomes include new methods to enable accurate assessments of how much action is needed to avoid extinction, and the feasibility and overall costs of undertaking these actions. By reducing uncertainty, this project will help ensure conservation efforts are economically viable and ecologically effective, so Australia can adhere to its commitments to stop species extinction.. Scheme: Discovery Projects. Field: 4104 - Environmental Management. Lead: Prof James Watson