A cost-benefit analysis for the management of Gonipterus platensis by comparing chemical and augmentative biological control

•A 3-PG.d simulator was used to compare management strategies against G. platensis.•Above 25% defoliation applying treatments was always better than doing nothing.•Treatments can save more than 100 m3/ha and 1500 € ha−1 regardless of site quality.•Augmentative biological control surpasses chemicals for low-medium attack levels.•Chemical treatments were the best alternative under heavy defoliation attacks.