Bhattacharjee, VINAYAK; Cicchetti, CHARLES J.; Rankin, … - In: Contemporary Economic Policy 11 (1993) 1, pp. 69-75
Academic and policy debate has centered around an apparent "underinvestment in conservation." This paper outlines traditional explanations for underinvestment and presents a prospect theory analysis of individual conservation behavior. On the basis of investment criteria, individuals seem to...