TY  - BOOK
AU  - Agliardi, Elettra
AU  -  Agliardi, Rossella
AU  -  Spanjers, Willem
TI  - The Economic Value of Biodiversity Preservation
SN  - 1573-1502
PB  - Environmental and Resource Economics
KW  -  Biodiversity Valuation
KW  -  Endangered Species
KW  - Biodiversity Preservation
N2  - We study the decision to preserve diverse species when the value of biodiversity is uncertain, or even affected by ambiguity. Optimal decisions are derived both from the perspective of the producer/investor and the policy regulator (ecosystem planner). We find that while calculated risk creates a scope for biodiversity preservation, the presence of ambiguity aversion reduces it, thus accelerating the extinction of species with lower value. Our results suggest that effective conservation strategies would involve a reduction of ambiguity aversion by creating a stable and transparent policy environment. Furthermore, they may involve a two tier strategy, with one tier addressing output targets and the other conservation targets
UR  - https://doi.org/10.1007/s10640-024-00855-0
ER  -