Conservation: Economics, Science, and Policy [Paperback]

Charles Perrings and Ann Kinzig address the broad problem of conservation, the principles that inform conservation choices, and the application of those principles to the management of the natural world.Conservationexamines how conservation choices are made and demonstrates how decisions of one person or one community at one time or place affect people or communities at other times or places.A unified theory of conservation that addresses the broad problem of conservation, the principles that inform conservation choices, and the application of those principles to the management of the natural world.The conservation of natural resources, like that of any other asset, involves trade-offs. Yet, in a world faced with the harsh realities of climate change, crafting the right environmental policies is an increasingly urgent task. InConservation, Charles Perrings and Ann Kinzig bring together new research in economics and biodiversity to investigate conservation decisions and the theory behind them.Perrings and Kinzig apply the concept of conservation broadly to examine how the principles of conservation apply to the management of the natural world. They demonstrate that the same basic principles serve as the foundation of all rational conservation decisions, from managing financial assets to safeguarding at-risk ecosystems. Whether someone is deciding to hold or dispose of a stock or whether to exploit or preserve a natural resource, they are better off choosing to conserve a resource when its value to them, if conserved, is greater than its value when converted. The book also considers the context of such conservation decisions. Just as national tax rules influence choices about financial investments, environmental regulations within countries, and environmental agreements between countries, impact the decisions regarding natural resources. Building on their basic theory of conservation, Perrings and Kinzig address key issues in the fielÃ#