Economic evaluations are essential for assessing the desirability of biodiversity conservation. This article highlights significant advances in theories and methods of economic evaluation and their relevance and limitations as a guide to biodiversity conservation; considers the implications of the phylogenetic similarity principle for the survival of species; discusses consequences of the Noah's Ark problem for selecting features of biodiversity to be saved; analyzes the extent to which the precautionary principle can be rationally used to support the conservation of biodiversity; explores the impact of market extensions, market and other institutional failures, and globalization on biodiversity loss; examines the relationship between the rate of interest and biodiversity depletion; and investigates the implications of intergenerational equity for biodiversity conservation. The consequences of changes in biodiversity for sustainable development are given particular attention.
© 2011 New York Academy of Sciences.