Valuing Biodiversity from an Economic Perspective : A Uni ® ed Economic , Ecological , and Genetic Approach
نویسنده
چکیده
We develop a conceptual framework for valuing biodiversity from an economic perspective. We argue for a dynamic economic welfare measure of biodiversity that complements the literature on bene t-cost approaches and genetic distance/phylogenic tree approaches. Using a uni ed model of optimal economic management of an ecosystem under ecological and genetic constraints, we identify gains from management policies leading to a more diverse system, using the Bellman state valuation function of the problem. We show that a more diverse system could attain a higher value although the genetic distance of the species in the more diverse system could be almost zero. (JEL Q2)
منابع مشابه
Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological and Genetic Approach1
We develop a conceptual framework for valuing biodiversity from an economic perspective. We consider biodiversity important because of a number of characteristics or services that it provides or enhances. We argue for a dynamic economic welfare measure of biodiversity that complements the existing literature on benefit-cost approaches and genetic distance/phylogenic tree approaches, which to da...
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