Endangered species: the economics of irreversible damage

摘要: In this paper we develop some of the economic theory relevant to decisions about protection endangered species and their natural habitat. Two key concepts emerge from discussion: uncertainty irreversibility. Uncertainty is pervasive in life, course. But more than usual degree surrounds potential future benefits conserving ecosystems. Most species, for example, remain as yet undiscovered tropical moist forests that are at same time undergoing rapid (from point view indigenous species) destructive development. these circumstances it hard predict what values — a cure (some form of) cancer, liquid hydrocarbon, perennial corn, name just three interesting among current possibilities will ultimately if may produce them not lost.