Spash, C. L. and Hanley, N. (1995) Preferences, information and biodiversity preservation. Ecological Economics, 12(3), pp. 191-208. (doi: 10.1016/0921-8009(94)00056-2)
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Abstract
This paper considers the nature of preferences for the preservation of biodiversity, and the extent to which individuals are well-informed about biodiversity. We present evidence that the elicitation of monetary bids to pay for biodiversity preservation, as required for cost-benefit analysis, fails as a measure of welfare changes due to the prevalence of preferences which neoclassical economics defines as lexicographic. That is, a significant proportion of individuals refuse to make trade-offs which require the substitution of biodiversity for other goods. In addition, we show that understanding of the biodiversity concept is extremely limited, raising concerns over a reliance on stated preferences, as revealed in contingent valuation studies, for decision-making on this issue. Results from two samples (students and the general public) are described.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Hanley, Professor Nicholas |
| Authors: | Spash, C. L., and Hanley, N. |
| College/School: | College of Medical Veterinary and Life Sciences > School of Biodiversity, One Health & Veterinary Medicine |
| Journal Name: | Ecological Economics |
| Publisher: | Elsevier |
| ISSN: | 0921-8009 |
| ISSN (Online): | 1873-6106 |
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