The economic value of biodiversity

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 (Unpublished)


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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