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Biodiversity as a Commodity

Author

Listed:
  • Heal, G.

Abstract

What is the nature of biodiversity as an economic commodity and why does it matter? How would its conservation contribute economically to our well being? I consider three issues: - Why is biodiversity important from an economic perspective? - hat kind of commodity is it? - oes our usual economic mechanism, the market system, have the capacity to appreciate the economic value of biodiversity? I first characterize biodiversity from an economic perspective, and then consider the capacity of our main economic institutions to realize the value of biodiversity and ensure that it is treated in a way commensurate with its importance.

Suggested Citation

  • Heal, G., 1999. "Biodiversity as a Commodity," Papers 99-7, Columbia - Graduate School of Business.
    • Handle: RePEc:fth:colubu:99-7
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    Citations

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    Cited by:

    1. William A. Brock & Anastasios Xepapadeas, 2003. "Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological, and Genetic Approach," American Economic Review, American Economic Association, vol. 93(5), pages 1597-1614, December.
    2. Sathaye, Jayant A. & Anger, Niels, 2008. "Reducing Deforestation and Trading Emissions: Economic Implications for the post-Kyoto Carbon Market," ZEW Discussion Papers 08-016, ZEW - Leibniz Centre for European Economic Research.
    3. Padmanabhan, Martina & Jungcurt, Stefan, 2012. "Biocomplexity—conceptual challenges for institutional analysis in biodiversity governance," Ecological Economics, Elsevier, vol. 81(C), pages 70-79.
    4. Baranzini, Andrea & Faust, Anne-Kathrin & Huberman, David, 2010. "Tropical forest conservation: Attitudes and preferences," Forest Policy and Economics, Elsevier, vol. 12(5), pages 370-376, June.

    More about this item

    Keywords

    NATURAL RESOURCES;

    JEL classification:

    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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