Option Value of Apex Predators: Evidence from a River Discontinuity

Eyal G. Frank, Anouch Missirian, Dominic Parker and Jennifer L. Raynor

No 34377, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: "Option value" provides theoretical justification for conserving wildlife species lacking known value, but empirical assessments of actual realizations are rare. We examine quasi-option value in the context of gray wolf eradication, which aimed to protect humans and their property historically, but also reduced the potential for wolves to improve human well-being today. We estimate the effects of long-run differences in the presence of wolves north, but not south, of Canada’s Saint Lawrence River on animal-related (primarily deer) vehicle collisions. Wolves reduce the share of animal collisions by 38 percent, reducing risk to human life and property.

JEL-codes: Q20 Q50 (search for similar items in EconPapers)
Date: 2025-10
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Note: EEE
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