Abstract
In recent years many programmes have been set up to tackle biodiversity loss. Since the loss of species is irreversible and their value is largely unknown, conservation measures have a quasi-option value in the sense of Arrow and Fisher (1974). The paper explores the decision problem of a nature protection agency seeking to maximise the expected biodiversity of a region subject to a budget constraint
Original language | English |
---|---|
Title of host publication | Risk and uncertainty in environmental and resource economics : international conference, 5-7 June 2002, Wageningen International Conference Centre, Wageningen, The Netherlands |
Editors | E.C. van Ierland, H.P. Weikard |
Publisher | Wageningen University |
Pages | 300-311 |
Publication status | Published - 2002 |
Keywords
- biodiversity
- land use
- nature conservation
- decision making
- costs