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Journal of Economic Perspectives: Vol. 12 No. 3 (Summer 1998)
JEP Volume. 12, Issue 3 | 
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Conflicts and Choices in Biodiversity Preservation
Article Citation
Metrick, Andrew, and
Martin L. Weitzman. 1998. "Conflicts and Choices in Biodiversity Preservation."
Journal of Economic Perspectives,
12(3): 21-34.
DOI: 10.1257/jep.12.3.21
DOI: 10.1257/jep.12.3.21
Abstract
The purpose of this article is to examine the preservation of biodiversity as an economic problem. Using a very simple prototype model, the authors discuss how to include diversity in the objective function and how to develop a simple cost-benefit ranking criterion for ordering priorities. Then they analyze data on endangered species preservation decisions in the United States to shed light on the conformity of theory with practice. A basic theme is that the core issue in biodiversity preservation today is the fuzziness of the objective function.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Metrick, Andrew (Harvard U)
Weitzman, Martin L. (Harvard U)
Weitzman, Martin L. (Harvard U)
JEL Classifications
Q28: Renewable Resources and Conservation: Government Policy
K32: Environmental, Health, and Safety Law
K32: Environmental, Health, and Safety Law
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