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  4. Summer 1998
  5. Conflicts and Choices in Biodiversity Preservation

Conflicts and Choices in Biodiversity Preservation

  • Andrew Metrick
  • Martin L. Weitzman
Journal of Economic Perspectives
vol. 12, no. 3, Summer 1998
(pp. 21-34)
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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.

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

JEL Classification

  • Q28 Renewable Resources and Conservation: Government Policy
  • K32 Environmental, Health, and Safety Law
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