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Theoretical Issues in Using Offsets for Managing Biodiversity

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  • Godden, David P.
  • Vernon, Don

Abstract

Analysis of environmental problems involves addressing some of the complexities of economics that arise when departures are contemplated from the theory of perfectly competitive markets and its assumptions of allocated, appropriable property rights. It is currently fashionable to advocate the use of market based instruments, including offsets, to solve environmental problems. In this paper, the theoretical issues involved in using offsets are examined and illustrated in relation to biodiversity management. It is argued that, although offsets schemes have been successfully developed for pollution markets, there are considerably greater challenges in designing them for efficient and widely applicable biodiversity management.

Suggested Citation

  • Godden, David P. & Vernon, Don, 2003. "Theoretical Issues in Using Offsets for Managing Biodiversity," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57872, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare03:57872
    DOI: 10.22004/ag.econ.57872
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    References listed on IDEAS

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    1. Murtough, Greg & Aretino, Barbara & Matysek, Anna, 2002. "Creating Markets for Ecosystem Services," Staff Research Papers 31912, Productivity Commission.
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    Cited by:

    1. Mike Young, 2004. "Allocation and coordination of Water Resources: Towards a National Water Policy Framework: Vision to Implmentation. Conference proceedings. United Nations Association (Victoria) Inc," Natural Resource Management Economics 04_003, Policy and Economic Research Unit, CSIRO Land and Water, Adelaide, Australia.

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    Keywords

    Environmental Economics and Policy;

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