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Bioprospecting and Biodiversity Contracts

Author

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  • Denise M. Mulholland

    (Office of Policy, Planning and Evaluation, United States Environmental Protection Agency)

  • Elizabeth A. Wilman

    (Department of Economics, University of Calgary)

Abstract

An economic model for a biodiversity prospecting contract, between a developing country and a pharmaceutical company is developed. The theoretical model is compared with observed contracts and those being developed by biodiversity expects. It is found that these contracts roughly reflect the character of the economic model, although due to asymmetric information and risk aversion, the contracts are often second-best.

Suggested Citation

  • Denise M. Mulholland & Elizabeth A. Wilman, 1998. "Bioprospecting and Biodiversity Contracts," Working Papers in Ecological Economics 9806, Australian National University, Centre for Resource and Environmental Studies, Ecological Economics Program.
    • Handle: RePEc:anu:wpieep:9806
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    Cited by:

    1. Ding, Helen & Nunes, Paulo A.L.D. & Onofri, Laura, 2007. "An Economic Model for Bioprospecting Contracts," Sustainability Indicators and Environmental Valuation Working Papers 7450, Fondazione Eni Enrico Mattei (FEEM).
    2. Amitrajeet A. Batabyal & Peter Nijkamp, 2013. "Biodiversity Prospecting over Time and under Uncertainty: A Theory of Sorts," Tinbergen Institute Discussion Papers 13-163/VIII, Tinbergen Institute.

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