The value of conserving genetic resources for R&D: A survey
The value of genetic resources for R&D is placed within the framework of discussions concerning sustainability. We assess the extent to which society is able to invest now in order to prepare for future risks and uncertainties in the arrival of biological problems. Each of the approaches to valuation is discussed within this setting. Weitzman's approach to measurement is seen to be one that considers society's current objectives and information to be little relevant to future risks and uncertainties. Sedjo, Simpson and Reids' search-theoretic perspective is seen to reduce future uncertainties to highly tractable and known problems. Goeschl and Swanson's bio-technological approach also constrains the problem to be one without any real uncertainty, and focuses on the need to maintain genetic resources in order to maintain control over the problem. Kassar and Lasserre place uncertainty at the core of the problem, and assess the extent to which additional value is added by this feature. In sum all of the approaches to the problem evince a pessimism regarding the capacity of future technological change automatically to resolve these problems. Given this, the value of genetic resources depends on beliefs concerning the ability of current objectives to anticipate future risks and uncertainties.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
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.:
- Solow Andrew & Polasky Stephen & Broadus James, 1993. "On the Measurement of Biological Diversity," Journal of Environmental Economics and Management, Elsevier, vol. 24(1), pages 60-68, January.
- Timo Goeschl & Timothy Swanson, 2002. "The Social Value of Biodiversity for R&D," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(4), pages 477-504, August.
- Gordon C. Rausser & Arthur A. Small, 2000.
"Valuing Research Leads: Bioprospecting and the Conservation of Genetic Resources,"
Journal of Political Economy,
University of Chicago Press, vol. 108(1), pages 173-206, February.
- Rausser, Gordon C. & Small, Arthur A., 2000. "Valuing Research Leads: Bioprospecting and the Conservation of Genetic Resources," Berkeley Olin Program in Law & Economics, Working Paper Series qt4t56m5b8, Berkeley Olin Program in Law & Economics.
- Ilhem Kassar & Pierre Lasserre, 2002.
"Species Preservation and Biodiversity Value: A Real Options Approach,"
CIRANO Working Papers
- Kassar, Ilhem & Lasserre, Pierre, 2004. "Species preservation and biodiversity value: a real options approach," Journal of Environmental Economics and Management, Elsevier, vol. 48(2), pages 857-879, September.
- Ilhem Kassar & Pierre Lasserre, 2002. "Species Preservation and Biodiversity Value: A Real Options Approach," Cahiers de recherche du Département des sciences économiques, UQAM 20-18, Université du Québec à Montréal, Département des sciences économiques.
- 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 163-185, February.
- Martin L. Weitzman, 1998. "The Noah's Ark Problem," Econometrica, Econometric Society, vol. 66(6), pages 1279-1298, November.
- Martin L. Weitzman, 2000.
"Economic Profitability Versus Ecological Entropy,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 115(1), pages 237-263.
- Gollier, Christian & Jullien, Bruno & Treich, Nicolas, 2000. "Scientific progress and irreversibility: an economic interpretation of the 'Precautionary Principle'," Journal of Public Economics, Elsevier, vol. 75(2), pages 229-253, February.
- Costello, Christopher & Ward, Michael, 2006.
"Search, bioprospecting and biodiversity conservation,"
Journal of Environmental Economics and Management,
Elsevier, vol. 52(3), pages 615-626, November.
- Costello, Christopher & Ward, Michael B., 2007. "Search, bioprospecting, and biodiversity conservation," MPRA Paper 26527, University Library of Munich, Germany.
When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:67:y:2008:i:2:p:184-193. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.