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The Economic Value of Biodiversity Preservation

Elettra AgliardiRossella AgliardiWillem Spanjers

出版	SSRN, 2022
URL	http://books.google.com.hk/books?id=ssbhzwEACAAJ&hl=&source=gbs_api

註釋

We study the decision to preserve diverse species when the value of biodiversity is uncertain, or even affected by ambiguity. Optimal decisions are derived in a real option framework. We find that while calculated risk creates a scope for biodiversity preservation, the presence of ambiguity reduces it, thus accelerating the extinction of species with lower value. Our results suggests that effective conservation strategies would involve a reduction of ambiguity by creating a stable and transparent policy environment. Furthermore, they may involve a two tier strategy, with one tier addressing output targets and the other conservation targets.