On the Productive Value of Biodiversity
AbstractThe paper investigates the value of biodiversity as it relates to the productive value of services provided by an ecosystem. It analyzes how the value of an ecosystem can be "greater than the sum of its parts." First, it proposes a general measure of the value of biodiversity. Second, this measure is decomposed into four components, reflecting the role of complementarity, scale, convexity, and catalytic effects. This provides new information on the sources and determinants of biodiversity value. Third, the paper examines the role of uncertainty. In this context, the role of risk and of downside-risk exposure and their effects on the value of biodiversity are explored. This provides useful insights on how management and policy decisions can affect the value of biodiversity.
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 42 (2009)
Issue (Month): 1 (January)
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Web page: http://www.springerlink.com/link.asp?id=100263
Biodiversity; Productive value; Complementarity; Scale; Convexity; Catalytic effect; D6; Q2; Q5;
Other versions of this item:
- D6 - Microeconomics - - Welfare Economics
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
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.:
- William Brock & Anastasios Xepapadeas, .
"Valuing Biodiversity from an Economic Perspective: AUnified Economic, Ecological and Genetic Approach,"
0301, University of Crete, Department of Economics.
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- A. Ruijs & M. Kortelainen & A. Wossink & C.J.E. Schulp & R. Alkemade & Paul Madden, 2012. "Opportunity cost estimation of ecosystem services," The School of Economics Discussion Paper Series 1222, Economics, The University of Manchester.
- Elena Ojea & Paulo Nunes & Maria Loureiro, 2010. "Mapping Biodiversity Indicators and Assessing Biodiversity Values in Global Forests," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 47(3), pages 329-347, November.
- Chavas, Jean-Paul, . "On the economics of agricultural production," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society.
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