IDEAS home Printed from https://ideas.repec.org/p/crt/wpaper/0102.html

Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological and Genetic Approach

Author

Listed:
  • William Brock

    (University of Wisconsin, Department of Economics, USA)

  • Anastasios Xepapadeas

    (Department of Economics, University of Crete, Greece)

Abstract

We develop a conceptual framework for valuing bioversity from an economic perspective. We consider bioversity important because of a number of characteristics or services that it provided of enhances. We attribute bioversity loss to economic activities related to decisions of private optimizing agents that ignore useful characteristics or services associated ecosystems. Using a unified model of economic management of an ecosystem under ecological and genetic constrains, we compare the optimal value of the social optimization problem where positive externalities associated with bioversity are internalized, to that of a private optimization problem. We obtain an endogenous measure of the bioversity value and relate this measure to ecologically/biologically oriented bioversity metrics (special richness, Shannon or Simpson indices) that correspond to the equilibrium diversities of the social and private optimization problems.

Suggested Citation

  • William Brock & Anastasios Xepapadeas, 2001. "Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological and Genetic Approach," Working Papers 0102, University of Crete, Department of Economics.
    • Handle: RePEc:crt:wpaper:0102
    as

    Download full text from publisher

    File URL: http://economics.soc.uoc.gr/wpa/docs/Brock_Xepapad_Biodiv.pdf
    File Function: First version
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    JEL classification:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:crt:wpaper:0102. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kostis Pigounakis (email available below). General contact details of provider: https://edirc.repec.org/data/deuchgr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.