looks at optimal policies of biodiversity conservation. The subject of the paper is natural biodiversity, which is …

conservation contract, (iii) when the donor prefers contracting with central rather than local governments, and (iv) how the donor …. Consequently, decentralizing authority increases conservation if and only if districts are weak. Contracting with the central …

A “conservation good” (such as a tropical forest) is owned by a seller who is tempted to consume (or cut), but a buyer … benefits more from conservation. The seller does conserve if the buyer is expected to buy, but the buyer is unwilling to pay as … long as the seller conserves. This contradiction implies that the market for conservation cannot be efficient and …