The question of how to deal with uncertainty in environmental decision-making is cur-rently attracting considerable attention on the part of scientists as well as of politicians and those involved in government administration. The existence of uncertainty becomes particularly apparent in the...

The ecological literature suggests that biodiversity reduces the variance of ecosystem services. Thus, conservative biodiversity management has an insurance value to risk-averse users of ecosystem services. We analyze a conceptual ecological-economic model in which such management measures...