Abstract
The problem of global biodiversity losses derives from the failure of states to consider the impacts upon global stocks when taking national regulation decisions. When stock depletion generates substantial externalities, as is the case with diverse biological resources, then decentralised (i.e. multinational) regulation of these global stocks will necessarily be inefficient. The biodiversity problem is, in effect, the predictable result of an imperfection in the existing global regulatory system with regard to diverse resources; decentralised decisions regarding diverse resources cannot take into account the innate value of their diversity.
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© 1994 Timothy M. Swanson
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Swanson, T.M. (1994). The Global Biodiversity Problem: Optimal Policy and the Global Conversion Process. In: The International Regulation of Extinction. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12985-0_6
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DOI: https://doi.org/10.1007/978-1-349-12985-0_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-12987-4
Online ISBN: 978-1-349-12985-0
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