project that can bemonetized are incorporated into the CBA. Otheraspects such as changes in biodiversity or scenicbeauty are …

This paper considers two problems in valuing the benefits of biodiversity protection. These are, firstly, that … preferences for biodiversity protection may be lexicographic rather than utilitarian. The more individuals for whom this is true …, the less is cost-benefit analysis validated as a means of decision making for biodiversity protection, since lexicographic …

David Pearce was a pioneer in the economic valuation of biodiversity. His work powerfully influenced both later … biodiversity must first be demonstrated to those who make decisions concerning its survival, and then appropriated by them. The …, reasons for conservation. I argue in this paper that Pearce’s seminal work on the valuation of biodiversity cannot be …