Monitoring is an important and costly activity in resource management problems such as containing invasive species, protecting endangered species, preventing soil erosion, and regulating contracts for environmental services. Recent studies have viewed optimal monitoring as a Partially Observable...

Two papers of (Pindyck, 2000) and (Pindyck, 2002) that modeled the control of stock pollutants as optimal stopping problems contained closed form solutions that are incorrect. This paper discusses a subtle error in the derivation and demonstrates how solutions to these and related problems can...