Abstract
A cost–benefit analysis (CBA) is an economic approach to estimate the value of alternative programs, policies or management options. Net present value in CBA is one of the standard approaches to value the future benefits of investments. Due to the complexity of urban tree benefits, little is known about how to estimate the monetary value of the ecosystem services that urban trees provide as future benefits. We modeled the economic analyses of emerald ash borer (EAB) (Agrilus planipennis) management scenarios for urban ash trees (Fraxinus spp.) in New Jersey. These scenarios include: (1) no infestation or baseline scenario, (2) infestation with no action, (3) immediate removal and replacement and (4) the treatment of ash trees. The net present value for each management option is calculated using discount rates of 0%, 2% and 5%. The National Tree Benefit Calculator (NTBC) tool is used to quantify the economic value of the ecosystem services provided by the ash trees based on their diameter at breast height (DBH) values. The horizon over which benefits and costs are calculated was set at up to 20 years to estimate the net present value of ash trees that have DBH values of 4 inches. Results from the NPV outputs conclude that across most discount rates, the treatment of ash trees provided greater dollar (USD) values of ecosystem services over time when compared to inaction or the removal and replacement of ash trees. The present research suggests that removing and replacing ash trees is not cost effective at any discount rate due to the high future costs associated with retaining the newly planted trees over a twenty-year time horizon.
Highlights
The emerald ash borer (EAB) (Agrilus planipennis) is a wood-boring beetle present in the U.S that is native to Asian countries, including China, Japan, Taiwan, Korea, Laos, Mongolia and the Russian Far East [1,2,3,4,5,6]
The results from our study indicate that the benefits of street ash trees in New Jersey are greater when ash trees are not infested with EAB, or ash trees are treated if infested with EAB
Compared to the infestation and no action and removal and replacement, the treatment of ash trees shows an increase in net present value (NPV) with an increase in diameter at breast height (DBH)
Summary
The emerald ash borer (EAB) (Agrilus planipennis) is a wood-boring beetle present in the U.S that is native to Asian countries, including China, Japan, Taiwan, Korea, Laos, Mongolia and the Russian Far East [1,2,3,4,5,6]. Since its initial dispersal in Michigan, the EAB has killed over an estimated 8 billion of native ash trees (Fraxinus spp.) and is currently dispersed across both the U.S and Canada [15,16,17]. Due to biological flight and anthropogenically driven flight dispersal modes, the EAB infestation continues to broadly spread across the Midwestern and Northeastern states in the U.S [18]
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