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Investments in Biodiversity Prospecting and Incentives for Conservation

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  • Sedjo, Roger

    () (Resources for the Future)

  • Simpson, R. David

Abstract

There is considerable interest in biodiversity prospecting (the search for valuable new products from natural sources) as a conservation strategy. In an earlier paper, we have argued that the value of the marginal species (and, by extension, the incentives for the conservation of the habitat on which it is found) is small. In this paper, we show that investments in biodiversity prospecting are unlikely to increase incentives for conservation by much. If the value of the marginal species were appreciable, researchers ought already to have made investments to exploit it. If it is not, it is doubtful that additional investments will generate any substantial increase. It is important to be clear about our findings: we are not saying that none of the myriad uses of biodiversity is important. Quite to the contrary, we are saying that if biodiversity is important, more effective strategies for its conservation must be found.

Suggested Citation

  • Sedjo, Roger & Simpson, R. David, 1996. "Investments in Biodiversity Prospecting and Incentives for Conservation," Discussion Papers dp-96-14, Resources For the Future.
  • Handle: RePEc:rff:dpaper:dp-96-14
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    File URL: http://www.rff.org/RFF/documents/RFF-DP-96-14.pdf
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    References listed on IDEAS

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    1. 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.
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    Cited by:

    1. Swallow, Stephen K., 1996. "Economic Issues in Ecosystem Management: An Introduction and Overview," Agricultural and Resource Economics Review, Cambridge University Press, pages 83-100.
    2. Sedjo, Roger & Simpson, R. David, 1996. "Valuation of Biodiversity for Use in New Product Research in a Model of Sequential Search," Discussion Papers dp-96-27, Resources For the Future.
    3. Krupnick, Alan J. & Burtraw, Dallas, 1996. "The social costs of electricity: Do the numbers add up?," Resource and Energy Economics, Elsevier, pages 423-466.
    4. 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.

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