[article]
Titre : |
The Insurance Value of Biodiversity in the Provision of Ecosystem Services |
Type de document : |
Électronique |
Auteurs : |
Stefan Baumgärtner |
Année de publication : |
2007 |
Article en page(s) : |
87-127 |
Langues : |
Anglais (eng) |
Catégories : |
[CBNPMP-Thèmes] Biodiversité
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Résumé : |
Biodiversity provides insurance against the uncertain provision of ecosystem services which are being used by risk-averse economic agents. I present a conceptual ecological-economic model that combines (i) current results from ecology about the relationships between biodiversity, ecosystem functioning, and the provision of ecosystem services with (ii) economic methods to study decision-making under uncertainty. In this framework I (1) determine the insurance value of biodiversity, (2) study the optimal allocation of funds in the trade-off between investing into biodiversity protection and the purchase of financial insurance, and (3) analyze the effect of different institutional regimes in the market for financial insurance on biodiversity protection. I conclude that biodiversity acts as a form of natural insurance for risk-averse ecosystem managers against the over- or under-provision with ecosystem services. Therefore, biodiversity has an insurance value, which is a value component in addition to the usual value arguments, such as direct or indirect use or non-use values. In this respect, biodiversity and financial insurance are substitutes. Hence, the availability, and exact institutional design, of financial insurance influence the level of biodiversity protection. |
Lien pérenne : |
DOI : 10.1111/j.1939-7445.2007.tb00202.x ![link https://doi.org/10.1111/j.1939-7445.2007.tb00202.x](./styles/zen_one/images/globe.gif) |
Permalink : |
https://biblio.cbnpmp.fr/index.php?lvl=notice_display&id=143551 |
in Natural resources modeling > 20 (1) (2007) . - 87-127
Baumgärtner, Stefan
2007
The Insurance Value of Biodiversity in the Provision of Ecosystem Services.
Natural resources modeling, 20(1): 87-127.
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