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Economic analyses to aid nature conservation decision making

Published online by Cambridge University Press:  25 May 2005

Ross Cullen
Affiliation:
Commerce Division, Lincoln University, PO Box 84, New Zealand.
Kenneth F.D. Hughey
Affiliation:
Environment, Society and Design Division, Lincoln University, PO Box 84, New Zealand.
Geoff Fairburn
Affiliation:
ING Australia Ltd, Sydney, Australia. Commerce Division, Lincoln University, PO Box 84, New Zealand.
Emma Moran
Affiliation:
Commerce Division, Lincoln University, PO Box 84, New Zealand.
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Abstract

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Nature conservation can often be costly and the resources available are often less than are required. Resource allocations and expenditures for nature conservation have an opportunity cost in terms of foregone projects, but are rarely subjected to as much scrutiny as other public activities. Failure to apply economic tools to nature conservation decision making can result in errors in project selection, wasted use of scarce resources, and lower levels of conservation than it is possible to achieve from the resources available. In some instances where economics has been proposed for use in nature conservation research, the methodologies applied provide information that is of limited usefulness to decision makers. Non-market valuation has limited potential to help in nature conservation decision making, is costly to complete and should be supplanted by more useful techniques that focus on the cost and the payoff from nature conservation actions. In contrast, Cost Effectiveness Analysis and Cost Utility Analysis are practical tools that can provide valuable information for conservation decision makers and improve conservation achievement.

Type
Articles
Copyright
© 2005 Fauna & Flora International