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3374

Biodiversity as a Commodity

Geoffrey Heal

In this report, Heal considers three issues: Why is biodiversity important from an economic perspective? What kind of commodity is it? Does our usual economic mechanism, the market system, have the capacity to appreciate the economic value of biodiversity? He first characterizes biodiversity from an economic perspective, and then considers the capacity of our main economic institutions to realize the value of biodiversity and ensure that it is treated in a way commensurate with its importance.

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