Implementing the Safe Minimum Standard Approach: Two Case Studies from the U.S. Endangered Species Act
AbstractIn situations characterized by true uncertainty and potential irreversibility, the safe minimum standard (SMS) approach is a decision rule to protect some critical natural resource-unless the social costs of doing so are somehow "intolerable." The SMS has been discussed widely, but actual case studies remain rare. We present two case studies, focusing on endangered fishes in the Colorado and Virgin River systems, demonstrating that the legal framework of the U.S. Endangered Species Act (ESA) is consistent with the SMS. The case studies incorporate the results from applied general equilibrium modeling and provide an avenue for investigating excessive economic consequences.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 74 (1998)
Issue (Month): 2 ()
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- Irmi Seidl & Clem Tisdell, 2001.
"Neglected Features of the Safe Minimum Standard: Socio-economic and Institutional Dimensions,"
Review of Social Economy,
Taylor and Francis Journals, vol. 59(4), pages 417-442.
- Seidl, Irmi & Tisdell, Clement A., 2000. "Neglected Features of the Safe Minimum Standard: Socio-economics and Institutional Dimensions," Economics, Ecology and Environment Working Papers 48000, University of Queensland, School of Economics.
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- Berrens, Robert P. & McKee, Michael & Farmer, Michael C., 1999. "Incorporating distributional considerations in the safe minimum standard approach: endangered species and local impacts," Ecological Economics, Elsevier, vol. 30(3), pages 461-474, September.
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