While biodiversity loss is an ecological phenomenon, it also has further dimensions - political, social and, last but not least, economic. From the economic perspective, the rapid loss of biological diversity can be viewed in two ways. First, the consequence of this deterioration process is a loss of options and an increase in scarcity of the environmental 'good', biodiversity. Second, economic activity and the structure of global and local economic institutions have frequently been identified as the major drivers of biodiversity loss. In economic terms, this constitutes a market failure - market-based economic activities lead to processes which undermine the long-term stability of these very activities. This book provides an ecological economic perspective on the value of diversity in ecosystems. Combining insights from various sub-disciplines of ecology and environmental/ecological economics, the author constructs a conceptual framework which identifies the ways in which biodiversity influences human well-being and offers a novel, unifying perspective on the economic value of biodiversity. This framework demonstrates that biodiversity's economic value mainly results from uncertainty about the future, regarding both supply of and demand for ecosystem services, and interconnections between ecosystems. The book goes on to identify suitable methods for economic valuation of biodiversity and discusses the currently underdeveloped and underused approach of deliberative monetary valuation. Combining a strong theoretical framework with practical examples, this book will be of great interest to students and researchers of ecological economics, ecosystem services, environmental values and environmental and resource economics.

While biodiversity loss is an ecological phenomenon, it also has further dimensions - political, social and, last but not least, economic. From the economic perspective, the rapid loss of biological diversity can be viewed in two ways. First, the consequence of this deterioration process is a loss of options and an increase in scarcity of the environmental 'good', biodiversity. Second, economic activity and the structure of global and local economic institutions have frequently been identified as the major drivers of biodiversity loss. In economic terms, this constitutes a market failure - market-based economic activities lead to processes which undermine the long-term stability of these very activities. This book provides an ecological economic perspective on the value of diversity in ecosystems. Combining insights from various sub-disciplines of ecology and environmental/ecological economics, the author constructs a conceptual framework which identifies the ways in which biodiversity influences human well-being and offers a novel, unifying perspective on the economic value of biodiversity. This framework demonstrates that biodiversity's economic value mainly results from uncertainty about the future, regarding both supply of and demand for ecosystem services, and interconnections between ecosystems. The book goes on to identify suitable methods for economic valuation of biodiversity and discusses the currently underdeveloped and underused approach of deliberative monetary valuation. Combining a strong theoretical framework with practical examples, this book will be of great interest to students and researchers of ecological economics, ecosystem services, environmental values and environmental and resource economics.

The introduction of new technologies can be controversial, especially when they create ethical tensions as well as winners and losers among stakeholders and interest groups. While ethical tensions resulting from the genetic modification of crops and plants and their supportive gene technologies have been apparent for decades, persistent challenges remain. This book explores the contemporary nature, type, extent and implications of ethical tensions resulting from agricultural biotechnology specifically and technology generally. There are four main arenas of ethical tensions: public opinion, policy and regulation, technology as solutions to problems, and older versus new technologies. Contributions focus on one or more of these arenas by identifying the ethical tensions technology creates and articulating emerging fault lines and, where possible, viable solutions. Key features include: Focusing on contemporary challenges created by new and emerging technologies, especially agricultural biotechnology. Identifying a unique perspective by considering the problem of ethical tensions created or enhanced by new technologies. Providing an interdisciplinary perspective by including perspectives from sociologists, economists, philosophers and other social scientists. This book will be of interest to academics in agricultural economics, sociology and philosophy and policymakers concerned with introducing new technology into agriculture.