PREFERENCES, INFORMATION AND BIODIVERSITY PRESERVATION

Clive Spash and Nick Hanley

No 140531, Discussion Papers in Ecological Economics from University of Stirling, Department of Economics

Abstract: Thi~ paper con~iders the nature of preferences for the preservation of biodiversity, and the extent to which individuab are well-informed about biodiversity. We present evidence that the elicitation of monetary bids to pay for biodiversity preservation, as required for cost-benefit analysis, fails as a measure of welfare changes due to the prevalence of preferences which neoclassical economics defines as lexicographic. That is, a ~ignificant proportion of individuals refuse to make trade-offs which require the substitution of biodiver~ity for other goods. In addition, we show that understanding of the biodiver~ity concept is extremely limited, raising concerns over a reliance on stated preferences, as revealed in contingent valuation studies, for decision-making on this issue. Results from two samples (students and the general public) are described.

Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
Pages: 48
Date: 1994-03
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Preferences, information and biodiversity preservation (1995)
Working Paper: Preferences, information and biodiversity preservation (1994)
Working Paper: Preferences, Information and Biodiversity Preservation (1993)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ukstdp:140531

DOI: 10.22004/ag.econ.140531

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