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...

The approach of conceptualizing biodiversity and ecosystems as goods and services to be represented by monetary values in policy is being championed not just by economists, but also by ecologists and conservation biologists. This new environmental pragmatism is now being pushed forward...