The Economic Value of Biodiversity Preservation
We study the decision to preserve diverse species when the value of biodiversity is uncertain, or even affected by ambiguity. Optimal decisions are derived both from the perspective of the producer/investor and the policy regulator (ecosystem planner). We find that while calculated risk creates a sc...
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| Veröffentlicht in: | Environmental & resource economics 2024-06, Vol.87 (6), p.1593-1610 |
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| container_title | Environmental & resource economics |
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| creator | Agliardi, Elettra Agliardi, Rossella Spanjers, Willem |
| description | We study the decision to preserve diverse species when the value of biodiversity is uncertain, or even affected by ambiguity. Optimal decisions are derived both from the perspective of the producer/investor and the policy regulator (ecosystem planner). We find that while calculated risk creates a scope for biodiversity preservation, the presence of ambiguity aversion reduces it, thus accelerating the extinction of species with lower value. Our results suggest that effective conservation strategies would involve a reduction of ambiguity aversion by creating a stable and transparent policy environment. Furthermore, they may involve a two tier strategy, with one tier addressing output targets and the other conservation targets. |
| doi_str_mv | 10.1007/s10640-024-00855-0 |
| format | Article |
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| fulltext | fulltext |
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| ispartof | Environmental & resource economics, 2024-06, Vol.87 (6), p.1593-1610 |
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| language | eng |
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| source | PAIS Index; Springer Nature - Complete Springer Journals |
| subjects | Ambiguity Aversion Biodiversity Climate change Common Agricultural Policy Conservation Economic Policy economic valuation Economics Economics and Finance Ecosystems Endangered & extinct species Environmental Economics Environmental Law/Policy/Ecojustice Environmental Management Extinction Farmers Fruits International organizations issues and policy Preservation risk species Species diversity Species extinction Value Wildlife conservation |
| title | The Economic Value of Biodiversity Preservation |
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