Bioeconomic Management of Red Swamp Crayfish (Procambarus clarkii) in the Presence of Environmental Externalities

Red swamp crayfish (Procambarus Clarkii) is a valuable renewable resource which creates significant negative externalities to its environment. Crayfish can cause severe crop damage by burrowing in fields and using irrigation systems to spread. These crayfish are resistant to normal dosages of pesticides which are harmful to fish and birds, can endure months of dryness, and live in a low oxygen environment. This paper presents a simple bioeconomic model for optimal use of the red swamp crayfish accounting for its value in consumption, adapting Plourde's (1970) model to include the negative externalities.