Agliardi, Elettra, Agliardi, Rossella and Spanjers, Willem (2022) The economic value of biodiversity. In: EAERE 2022, 27th Annual Conference of the European Association of Environmental and Resource Economists; 28 Jun to 01 Jul 2022, Rimini, Italy. (Unpublished)

Abstract

We study the decision to preserve diverse species when the value of biodiversity is uncertain, or even affected by ambiguity. The optimal decision is adopted based on a real option framework. The major findings are 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.

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Item Type:	Conference or Workshop Item (Paper)
Event Title:	EAERE 2022, 27th Annual Conference of the European Association of Environmental and Resource Economists
Organising Body:	European Association of Environmental and Resource Economists
Uncontrolled Keywords:	endangered species; biodiversity preservation; biodiversity valuation; switching option; ambiguity aversion
Research Area:	Research Areas > Economics and econometrics
Faculty, School or Research Centre:	Faculty of Arts and Social Sciences Faculty of Arts and Social Sciences > School of Law, Social and Behavioural Sciences
Date Deposited:	05 Jul 2022 14:33
Last Modified:	05 Jul 2022 14:33
URI:	https://eprints.kingston.ac.uk/id/eprint/51816

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