Valuing Services Emerging from a Gene Bank: The Case of the Greek Gene Bank

Anastasios Xepapadeas, Eva Kougea, Parthenopi Ralli, Sofia Spyrou, Nicolaos Stavropoulos, Vasiliki Tsiaousi and Athanasios Tsivelikas

No 1307, DEOS Working Papers from Athens University of Economics and Business

Abstract: We study insurance and productivity values associated with the Greek Gene Bank (GGB), the largest ex-situ conservation program in Greece. To evaluate the insurance value generated by the holdings of the GGB genetic resources, the current study examined scenarios for alternative arrival probabilities of an adverse event that will negatively affect production of seven major staple crops held at the GGB within the next 100 years. Productivity values were approximated through the probability of attaining increased yields by using the Bank�s genetic material. Our estimates suggest insurance and productivity values, which considerably exceed the costs of maintaining the GGB.

Date: 2013
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