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Conservation Economics and Sustainable Development

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Abstract

Economics influences conservation because it offers a way of valuing biodiversity and ecosystem services and a means for conservationists to make decisions for allocating their own resources to address threats to biodiversity. Ecosystem services are often public goods not easily valued in traditional markets. Cost-benefit Analysis, Hedonic Valuation Models, and Stated Preference Methods are adaptations of traditional economic approaches to capture conservation value. Integrated Conservation and Development Projects (ICDPs) are used in the Majority World to involve people in economic development attained through enhanced sustainability of their natural environment. Conservation biologists today must make economic activity a reflection of nature’s value rather than a determinant of it, and incorporate conservation as a normal part of economic activity rather than an external restraint that reduces its benefits.

Economics is about the broad world of understanding how the incentives we face affect the decision we make…The causes of biodiversity loss are founded in economics. Land-or-resource use decisions that affect the nature world are grounded in economics. And most importantly, the solutions and their effectiveness are grounded in economics.

Fisher et al. (2015:2–3).

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Change history

  • 25 August 2020

    An earlier version of the book has been published with certain errors. This has now been corrected and the following are the corrections:

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  1. Au Sable Institute, Mancelona, MI, USA

    Fred Van Dyke

  2. University of Maryland, College Park, MD, USA

    Rachel L. Lamb

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Van Dyke, F., Lamb, R.L. (2020). Conservation Economics and Sustainable Development. In: Conservation Biology. Springer, Cham. https://doi.org/10.1007/978-3-030-39534-6_11

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