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Environmental Natural Resources Law

Nature in the Balance: The Economics of Biodiversity by Dieter Helm, Cameron Hepburn

By Dieter Helm, Cameron Hepburn

This booklet units out the development blocks of an fiscal method of biodiversity, and particularly brings jointly conceptual and empirical paintings on valuation, foreign agreements, the coverage tools, and the associations. the target is to supply a entire evaluate of the problems and proof, and to indicate how this very pressing challenge could be addressed. while there was an immense development and examine specialize in weather switch, much less realization has been paid to biodiversity. This choice of fine quality chapters addresses the industrial matters taken with biodiversity defense.

This ebook makes a speciality of the economics, yet contains the underpinning technology and philosophy, combining the applying of a couple of theoretical rules with a chain of coverage instances. The authors are drawn from major students of their particular components of economics, philosophy, and conservation biology.

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Additional info for Nature in the Balance: The Economics of Biodiversity

Sample text

Furthermore, from an economic point of view, some species are more highly valued by humans than others, both for their intrinsic value and for the services they yield. Thus corn, wheat, and sugar cane are highly valued, to the extent that other species are pushed aside, whilst mosquitoes are not. 9 So using species as the unit of life is not without 6 World Resources Institute et al. (1992) and Noss (1990). Nature can also be understood to incorporate reference to non-living things. 8 We can estimate critical thresholds beyond which a species is condemned to extinction, at which point it effectively becomes a non-renewable resource.

Sen (eds), The Quality of Life, Oxford, Clarendon Press, 30–53. Stavins, R. N. -G. Mäler and J. R.

In sum, biodiversity is difficult to pin down conceptually, and there are various competing definitions that might be employed for quantitative 12 See, for example, Fisher et al. (2009) for details and discussion on the classification of ecosystem services. The Economic Analysis of Biodiversity 13 research. A further problem is that there are likely to be many species that have not yet been discovered, particularly insects and amphibians. While difficult, these problems do not prevent useful economic research, using tools and concepts including public goods, externalities, non-linearities and threshold effects, and the economics of information.

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