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Option Value of Apex Predators: Evidence from a River Discontinuity

Author

Listed:
  • Eyal G. Frank
  • Anouch Missirian
  • Dominic P. Parker
  • Jennifer L. Raynor

Abstract

"Option value" provides theoretical justification for conserving wildlife species lacking known value, but empirical assessments of actual realizations are rare. We examine quasi-option value in the context of gray wolf eradication, which aimed to protect humans and their property historically, but also reduced the potential for wolves to improve human well-being today. We estimate the effects of long-run differences in the presence of wolves north, but not south, of Canada’s Saint Lawrence River on animal-related (primarily deer) vehicle collisions. Wolves reduce the share of animal collisions by 38 percent, reducing risk to human life and property.

Suggested Citation

  • Eyal G. Frank & Anouch Missirian & Dominic P. Parker & Jennifer L. Raynor, 2025. "Option Value of Apex Predators: Evidence from a River Discontinuity," NBER Working Papers 34377, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:34377
    Note: EEE
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    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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