The complexity of biodiversity: A biological perspective on economic valuation

K.D. Farnsworth, A.H. Adenuga and R.S. de Groot

Ecological Economics, 2015, vol. 120, issue C, 350-354

Abstract: To value something, you first have to know what it is. Bartkowski et al. (2015) reveal a critical weakness: that biodiversity has rarely, if ever, been defined in economic valuations of putative biodiversity. Here we argue that a precise definition is available and could help focus valuation studies, but that in using this scientific definition (a three-dimensional measure of total difference), valuation by stated-preference methods becomes, at best, very difficult.

Keywords: Economic valuation; Biodiversity-function relations; Stated preference; Indirect value (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:120:y:2015:i:c:p:350-354

DOI: 10.1016/j.ecolecon.2015.10.003

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