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Biodiversity in the Marketplace

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  • Geoffrey Heal

Abstract

What is the nature of biodiversity as an economic commodity and why does it matter? How would its conservation contribute economically to our well-being? In this article, Geoffrey Heal considers three issues: Why is biodiversity important from an economic perspective? What kind of commodity is it? Does our usual economic mechanism, the market system, have the capacity to appreciate the economic value of biodiversity? The author first tries to characterize biodiversity from an economic perspective, and then considers the capacity of our main economic institutions to realize the value of biodiversity and ensure that it is treated in a way commensurate with its importance.

Suggested Citation

  • Geoffrey Heal, 2000. "Biodiversity in the Marketplace," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 1(4), pages 149-177, October.
    • Handle: RePEc:wej:wldecn:40
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=40
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    Cited by:

    1. Loft, Lasse & Lux, Alexandra, 2010. "Ecosystem Services - Eine Einführung [Ecosystem Services - An introduction]," MPRA Paper 44258, University Library of Munich, Germany.
    2. Onofri, Laura, 2014. "Material transfer agreements: An economic and econometric analysis," Ecological Economics, Elsevier, vol. 107(C), pages 422-430.
    3. Amin, Ariane, 2016. "Exploring the role of economic incentives and spillover effects in biodiversity conservation policies in sub-Saharan Africa," Ecological Economics, Elsevier, vol. 127(C), pages 185-191.

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