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Conflicts and Choices in Biodiversity Preservation

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Author Info
Metrick, Andrew
Weitzman, Martin L

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Abstract

The purpose of this article is to examine the preservation of biodiversity as an economic problem. Using a very simple prototype model, the authors discuss how to include diversity in the objective function and how to develop a simple cost-benefit ranking criterion for ordering priorities. Then they analyze data on endangered species preservation decisions in the United States to shed light on the conformity of theory with practice. A basic theme is that the core issue in biodiversity preservation today is the fuzziness of the objective function. Copyright 1998 by American Economic Association.

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Publisher Info
Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 12 (1998)
Issue (Month): 3 (Summer)
Pages: 21-34
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Handle: RePEc:aea:jecper:v:12:y:1998:i:3:p:21-34

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Weitzman, Martin L, 1992. "On Diversity," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 363-405, May. [Downloadable!] (restricted)
    Other versions:
  2. Stephen Polasky & Andrew Solow & James Broadus, 1993. "Searching For Uncertain Benefits and the Conservation Of Biological Diversity," Boston College Working Papers in Economics 208, Boston College Department of Economics.
  3. Simpson, R David & Sedjo, Roger A & Reid, John W, 1996. "Valuing Biodiversity for Use in Pharmaceutical Research," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 163-85, February. [Downloadable!] (restricted)
  4. Weitzman, Martin L, 1993. "What to Preserve? An Application of Diversity Theory to Crane Conservation?," The Quarterly Journal of Economics, MIT Press, vol. 108(1), pages 157-83, February. [Downloadable!] (restricted)
  5. Stephen Polasky & Andrew Solow & James Broadus, 1993. "Searching for uncertain benefits and the conservation of biological diversity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(2), pages 171-181, April. [Downloadable!] (restricted)
  6. Martin L. Weitzman, 1998. "The Noah's Ark Problem," Econometrica, Econometric Society, vol. 66(6), pages 1279-1298, November.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Felix Schläpfer & Michael Tucker & Irmi Seidl, 2002. "Returns from Hay Cultivation in Fertilized Low Diversity and Non-Fertilized High Diversity Grassland," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 21(1), pages 89-100, January. [Downloadable!] (restricted)
  2. Isabel Mendes, 2004. "Valuing Ecosystems - A Methodological Applying Approach," Working Papers 2004/11, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
  3. Michael Rauscher & Edward B. Barbier, 2007. "Biodiversity and Geography," Thuenen-Series of Applied Economic Theory 79, University of Rostock, Institute of Economics, Germany. [Downloadable!]
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  4. repec:att:wimass:192039 is not listed on IDEAS
  5. Andreas Freytag & Christoph Vietze, 2006. "International Tourism, development and Biodiversity: First Evidence," Jenaer Schriften zur Wirtschaftswissenschaft 11/2006, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät. [Downloadable!]
  6. William Brock & Anastasios Xepapadeas, . "Valuing Biodiversity from an Economic Perspective: AUnified Economic, Ecological and Genetic Approach," Working Papers 0301, University of Crete, Department of Economics. [Downloadable!]
    Other versions:
  7. repec:att:wimass:1920117 is not listed on IDEAS
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