Pub Date : 2025-04-22DOI: 10.1146/annurev-resource-013024-033016
Edward B. Barbier
In the current era of ecological scarcity and rising global environmental risks, there are increasing calls for limits on damage to the environment. Some scientists advocate imposing planetary boundaries to protect key Earth system processes from human impacts. This article reviews the economic implications of such an approach. From an economic perspective, planetary boundaries represent both a relative and absolute scarcity problem. Imposing such absolute limits may avoid undesirable tipping points, but they are not sufficient for optimal environmental management. The failure to tackle increasing relative ecological scarcity will lead to unsustainable use and could make keeping within limits unattainable. In view of these challenges raised by the planetary boundary approach, economics has three important roles: more robust modeling of the environmental impacts to incorporate risk and uncertainty, valuing ecological capital and its services, and informing local and global policies for improved management of globally important resources and sinks.
{"title":"An Economic Perspective on Planetary Boundaries","authors":"Edward B. Barbier","doi":"10.1146/annurev-resource-013024-033016","DOIUrl":"https://doi.org/10.1146/annurev-resource-013024-033016","url":null,"abstract":"In the current era of ecological scarcity and rising global environmental risks, there are increasing calls for limits on damage to the environment. Some scientists advocate imposing planetary boundaries to protect key Earth system processes from human impacts. This article reviews the economic implications of such an approach. From an economic perspective, planetary boundaries represent both a relative and absolute scarcity problem. Imposing such absolute limits may avoid undesirable tipping points, but they are not sufficient for optimal environmental management. The failure to tackle increasing relative ecological scarcity will lead to unsustainable use and could make keeping within limits unattainable. In view of these challenges raised by the planetary boundary approach, economics has three important roles: more robust modeling of the environmental impacts to incorporate risk and uncertainty, valuing ecological capital and its services, and informing local and global policies for improved management of globally important resources and sinks.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"1 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143862911","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-04-16DOI: 10.1146/annurev-resource-011724-082853
Maria I. Marshall
Natural disasters pose significant challenges to small businesses, as they are more vulnerable to shocks. Their recovery is crucial to the resilience of communities. This literature review explores the topic of US small business disaster recovery by examining research in economics, management, and disaster studies. The review highlights a consensus among small business researchers that even within the small business sector, size matters. There is an understanding that space and time play a crucial role not only in the recovery process itself but also in how researchers may need to measure recovery. A common thread is that the recovery process may not have a prescriptive endpoint, and that the endpoint to recovery may be in the eye of the beholder. The review exposes significant gaps in the literature, particularly regarding long-term recovery processes, standardized measurement metrics, and the complicated dynamics between business and household recovery.
{"title":"Small Business Disaster Recovery in the United States","authors":"Maria I. Marshall","doi":"10.1146/annurev-resource-011724-082853","DOIUrl":"https://doi.org/10.1146/annurev-resource-011724-082853","url":null,"abstract":"Natural disasters pose significant challenges to small businesses, as they are more vulnerable to shocks. Their recovery is crucial to the resilience of communities. This literature review explores the topic of US small business disaster recovery by examining research in economics, management, and disaster studies. The review highlights a consensus among small business researchers that even within the small business sector, size matters. There is an understanding that space and time play a crucial role not only in the recovery process itself but also in how researchers may need to measure recovery. A common thread is that the recovery process may not have a prescriptive endpoint, and that the endpoint to recovery may be in the eye of the beholder. The review exposes significant gaps in the literature, particularly regarding long-term recovery processes, standardized measurement metrics, and the complicated dynamics between business and household recovery.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"29 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2025-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143841385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-07DOI: 10.1146/annurev-resource-101323-094349
Keith O. Fuglie, Thomas W. Hertel, David B. Lobell, Nelson B. Villoria
Agriculture will play a central role in meeting greenhouse gas (GHG) emission targets, as the sector currently contributes ∼22% of global emissions. Because emissions are directly tied to resources employed in farm production, such as land, fertilizer, and ruminant animals, the productivity of input use tends to be inversely related to emissions intensity. We review evidence on how productivity gains in agriculture have contributed to historical changes in emissions, how they affect land use emissions both locally and globally, and how investments in research and development (R&D) affect productivity and therefore emissions. The world average agricultural emissions intensity fell by more than half since 1990, with a strong correlation between a region's agricultural productivity growth and reduction in emissions intensity. Additional investment in agricultural R&D offers an opportunity for cost-effective (<US$30 per ton carbon dioxide) and large-scale emissions reductions. Innovations that target specific commodities or inputs could even further reduce the cost of climate mitigation in agriculture.
{"title":"Agricultural Productivity and Climate Mitigation","authors":"Keith O. Fuglie, Thomas W. Hertel, David B. Lobell, Nelson B. Villoria","doi":"10.1146/annurev-resource-101323-094349","DOIUrl":"https://doi.org/10.1146/annurev-resource-101323-094349","url":null,"abstract":"Agriculture will play a central role in meeting greenhouse gas (GHG) emission targets, as the sector currently contributes ∼22% of global emissions. Because emissions are directly tied to resources employed in farm production, such as land, fertilizer, and ruminant animals, the productivity of input use tends to be inversely related to emissions intensity. We review evidence on how productivity gains in agriculture have contributed to historical changes in emissions, how they affect land use emissions both locally and globally, and how investments in research and development (R&D) affect productivity and therefore emissions. The world average agricultural emissions intensity fell by more than half since 1990, with a strong correlation between a region's agricultural productivity growth and reduction in emissions intensity. Additional investment in agricultural R&D offers an opportunity for cost-effective (<US$30 per ton carbon dioxide) and large-scale emissions reductions. Innovations that target specific commodities or inputs could even further reduce the cost of climate mitigation in agriculture.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"54 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142384406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-07DOI: 10.1146/annurev-resource-100622-085736
Erika Quendler, Friedrich Schneider
The focus of this review is the shadow economy (SE) in agriculture. Our research aim is to empirically quantify the SE in the agricultural sector based on data collected in the EU-15 member states from 1996 to 2019. We apply the multiple indicators multiple causes model to estimate the levels and development of the SE in these countries. Furthermore, we investigate how the size of the agricultural SE differs between the EU-15 member states and how it affects the economy overall. The results show that (a) the main potential for SE lies in agricultural subsidies, the effects of taxation, the share of imports, and factor income in agriculture; (b) certain patterns and differences exist among the countries, which can be associated with the north-south-west divide; and (c) there are higher levels of SEs in agriculture compared to in the overall economies. This review emphasizes the potential for measuring the SE in agriculture, while recognizing current methodological limitations. Recommendations include diversifying methods, standardizing definitions internationally, and enhancing theoretical foundations. Furthermore, expanding research to include more regions and improve visibility and transparency in measurements is crucial if informed policy is to be made to benefit agriculture globally.
{"title":"The Shadow Economy, an Enigma, in the Agriculture of 15 EU Member States over the Period 1996–2019","authors":"Erika Quendler, Friedrich Schneider","doi":"10.1146/annurev-resource-100622-085736","DOIUrl":"https://doi.org/10.1146/annurev-resource-100622-085736","url":null,"abstract":"The focus of this review is the shadow economy (SE) in agriculture. Our research aim is to empirically quantify the SE in the agricultural sector based on data collected in the EU-15 member states from 1996 to 2019. We apply the multiple indicators multiple causes model to estimate the levels and development of the SE in these countries. Furthermore, we investigate how the size of the agricultural SE differs between the EU-15 member states and how it affects the economy overall. The results show that (a) the main potential for SE lies in agricultural subsidies, the effects of taxation, the share of imports, and factor income in agriculture; (b) certain patterns and differences exist among the countries, which can be associated with the north-south-west divide; and (c) there are higher levels of SEs in agriculture compared to in the overall economies. This review emphasizes the potential for measuring the SE in agriculture, while recognizing current methodological limitations. Recommendations include diversifying methods, standardizing definitions internationally, and enhancing theoretical foundations. Furthermore, expanding research to include more regions and improve visibility and transparency in measurements is crucial if informed policy is to be made to benefit agriculture globally.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"39 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142384258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-07DOI: 10.1146/annurev-resource-112223-091502
William Nordhaus
This essay discusses three themes of my scholarly life from my student days up to today. They involve technological change, environmental accounting, and energy-climate-economic analysis. These themes have common analytical roots in the economic theory of public goods and encounter thorny issues of governance because of the Westphalian roots of international law and practice. Many of the issues, such as devising measures of natural capital and the need for strengthened international institutions, are just as pressing today as they were during my student days in the 1960s. In writing this, the enduring insight is that hindsight is the best foresight.
{"title":"Looking Backward, Looking Forward","authors":"William Nordhaus","doi":"10.1146/annurev-resource-112223-091502","DOIUrl":"https://doi.org/10.1146/annurev-resource-112223-091502","url":null,"abstract":"This essay discusses three themes of my scholarly life from my student days up to today. They involve technological change, environmental accounting, and energy-climate-economic analysis. These themes have common analytical roots in the economic theory of public goods and encounter thorny issues of governance because of the Westphalian roots of international law and practice. Many of the issues, such as devising measures of natural capital and the need for strengthened international institutions, are just as pressing today as they were during my student days in the 1960s. In writing this, the enduring insight is that hindsight is the best foresight.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"5 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142384255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-08-28DOI: 10.1146/annurev-resource-112223-094752
Robyn C. Meeks, Anil Pokhrel
Many low- and middle-income countries have made tremendous gains in electrification over the past few decades. These improvements in electricity access have enabled a growing body of empirical evidence on its impacts. This article complements prior reviews on the impacts of electrification by addressing several major remaining challenges faced by the electricity sector in developing countries—impediments to maximizing electricity services᾽ economic effects, obstacles to recovering utility costs, difficulties in forecasting future electricity demand, and uncertainty regarding the future adoption of climate-mitigating technologies—and the existing micro economic causal evidence addressing those challenges. We describe how randomized experiments have complemented the quasi-experimental evidence and then highlight some remaining gaps in the existing literature. Specifically, we highlight climate adaptation within the electricity sector in developing countries, which remains a crucial gap in both the discussion on and financing of electrification for development. We use case studies of Nepal and Pakistan in South Asia—a region that both recently experienced great electrification gains and is among the most vulnerable to climate change—to illustrate the need for additional work on adaptation in the electricity sector. We conclude by linking to recent discussions on climate adaptation finance.
{"title":"The Economics of Electricity and Development: Planning for Growth and a Changing Climate","authors":"Robyn C. Meeks, Anil Pokhrel","doi":"10.1146/annurev-resource-112223-094752","DOIUrl":"https://doi.org/10.1146/annurev-resource-112223-094752","url":null,"abstract":"Many low- and middle-income countries have made tremendous gains in electrification over the past few decades. These improvements in electricity access have enabled a growing body of empirical evidence on its impacts. This article complements prior reviews on the impacts of electrification by addressing several major remaining challenges faced by the electricity sector in developing countries—impediments to maximizing electricity services᾽ economic effects, obstacles to recovering utility costs, difficulties in forecasting future electricity demand, and uncertainty regarding the future adoption of climate-mitigating technologies—and the existing micro economic causal evidence addressing those challenges. We describe how randomized experiments have complemented the quasi-experimental evidence and then highlight some remaining gaps in the existing literature. Specifically, we highlight climate adaptation within the electricity sector in developing countries, which remains a crucial gap in both the discussion on and financing of electrification for development. We use case studies of Nepal and Pakistan in South Asia—a region that both recently experienced great electrification gains and is among the most vulnerable to climate change—to illustrate the need for additional work on adaptation in the electricity sector. We conclude by linking to recent discussions on climate adaptation finance.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"14 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142089957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-07-31DOI: 10.1146/annurev-resource-101623-102101
E. Berthet, I. Fusacchia
The global value chain (GVC) framework may provide a systematic approach to depict and advance sustainable path options at the global, national, and local scales. However, a coherent picture of the fragmented body of knowledge on the sustainability implications of GVCs is lacking. In an attempt to delineate the most effective perspective for addressing sustainability challenges within GVCs, this review explores the main academic streams that have emerged in response to the pressing need for detailed insights into GVCs. These academic streams include sociological, economic, and management approaches. We examine the intersections and distinctions among them, evaluating whether they converge or diverge in addressing sustainability within GVCs. By discussing the limitations and potential of these approaches, we suggest a possible integrated and appropriate research agenda to achieve an encompassing and still operative perspective to address current sustainability challenges.
{"title":"Navigating the Complexity: The Sustainability Challenges in Global Value Chains","authors":"E. Berthet, I. Fusacchia","doi":"10.1146/annurev-resource-101623-102101","DOIUrl":"https://doi.org/10.1146/annurev-resource-101623-102101","url":null,"abstract":"The global value chain (GVC) framework may provide a systematic approach to depict and advance sustainable path options at the global, national, and local scales. However, a coherent picture of the fragmented body of knowledge on the sustainability implications of GVCs is lacking. In an attempt to delineate the most effective perspective for addressing sustainability challenges within GVCs, this review explores the main academic streams that have emerged in response to the pressing need for detailed insights into GVCs. These academic streams include sociological, economic, and management approaches. We examine the intersections and distinctions among them, evaluating whether they converge or diverge in addressing sustainability within GVCs. By discussing the limitations and potential of these approaches, we suggest a possible integrated and appropriate research agenda to achieve an encompassing and still operative perspective to address current sustainability challenges.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"44 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141862129","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-07-26DOI: 10.1146/annurev-resource-101623-105713
Peter Hazell, Steven Haggblade, Thomas Reardon
This article reviews the past 25 years of empirical research on the rural nonfarm economy (RNFE) in developing countries; that literature has evolved in ways that track and mirror the rural transformation itself. Since 2000, rapid urbanization, structural transformation, and a sharp series of economic, climate, and disease shocks have influenced trajectories in the RNFE. It has grown to become, on average, the predominant source of income for rural households in developing countries. Both segments of the RNFE—activities linked to agricultural value chains as well as those unrelated to the agricultural sector—have grown. Understanding how each component of the RNFE influences rural incomes, employment, resilience, women, youth, and farming and natural resource management practices is, therefore, more important than ever.
{"title":"Transformation of the Rural Nonfarm Economy During Rapid Urbanization and Structural Transformation in Developing Regions","authors":"Peter Hazell, Steven Haggblade, Thomas Reardon","doi":"10.1146/annurev-resource-101623-105713","DOIUrl":"https://doi.org/10.1146/annurev-resource-101623-105713","url":null,"abstract":"This article reviews the past 25 years of empirical research on the rural nonfarm economy (RNFE) in developing countries; that literature has evolved in ways that track and mirror the rural transformation itself. Since 2000, rapid urbanization, structural transformation, and a sharp series of economic, climate, and disease shocks have influenced trajectories in the RNFE. It has grown to become, on average, the predominant source of income for rural households in developing countries. Both segments of the RNFE—activities linked to agricultural value chains as well as those unrelated to the agricultural sector—have grown. Understanding how each component of the RNFE influences rural incomes, employment, resilience, women, youth, and farming and natural resource management practices is, therefore, more important than ever.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"24 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141768512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-07-17DOI: 10.1146/annurev-resource-101623-102715
Shefali V. Mehta, Stephen Polasky, Elena Tsakakis
Environmental and resource challenges continue to grow in magnitude and complexity. Addressing these challenges requires expansive thinking to formulate and implement effective solutions. Transdisciplinary research, considered the pinnacle of integration across disciplines, offers a powerful approach for addressing complex questions. Three key themes emerge from transdisciplinary research in the context of environmental economics: (a) There are degrees of transdisciplinarity that contribute to new emergent approaches and on-the-ground application through behavior and practice changes; (b) there are many examples of environmental economics research that exhibit characteristics of transdisciplinary research, but aspects of transdisciplinarity could be expanded in many cases; and (c) there are various barriers (cross-disciplinary, individual, and systemic) facing economists in the application of a transdisciplinary approach. While transdisciplinary research comes with its own barriers, environmental economists could generate large potential gains in formulating and implementing solutions by exploring the transdisciplinary mindset and approach.
{"title":"The Role of Transdisciplinary Approaches in Environmental Economics","authors":"Shefali V. Mehta, Stephen Polasky, Elena Tsakakis","doi":"10.1146/annurev-resource-101623-102715","DOIUrl":"https://doi.org/10.1146/annurev-resource-101623-102715","url":null,"abstract":"Environmental and resource challenges continue to grow in magnitude and complexity. Addressing these challenges requires expansive thinking to formulate and implement effective solutions. Transdisciplinary research, considered the pinnacle of integration across disciplines, offers a powerful approach for addressing complex questions. Three key themes emerge from transdisciplinary research in the context of environmental economics: (<jats:italic>a</jats:italic>) There are degrees of transdisciplinarity that contribute to new emergent approaches and on-the-ground application through behavior and practice changes; (<jats:italic>b</jats:italic>) there are many examples of environmental economics research that exhibit characteristics of transdisciplinary research, but aspects of transdisciplinarity could be expanded in many cases; and (<jats:italic>c</jats:italic>) there are various barriers (cross-disciplinary, individual, and systemic) facing economists in the application of a transdisciplinary approach. While transdisciplinary research comes with its own barriers, environmental economists could generate large potential gains in formulating and implementing solutions by exploring the transdisciplinary mindset and approach.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"3 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141725780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-07-17DOI: 10.1146/annurev-resource-101623-093149
Lynne Lewis, Jennifer Raynor, Leslie Richardson
Wildlife species generate significant economic value through recreational opportunities, ecosystem services, and their existence and preservation for future generations. Policymaker decisions about fish and wildlife conservation, population management, hunting and fishing limits, and damage assessments all rely to some extent on nonmarket valuation estimates of the species in question. Focusing on individual species, we present a comprehensive review of the nonmarket valuation literature from 1990 to 2023. We quantify studies by species and synthesize the characteristics of these species. We examine why certain species or uses have been the historical focus. Finally, we offer some insights into gaps in our knowledge and directions for future research. While the wildlife valuation literature is extensive, we question the scope of coverage and speculate on the reasons for such heavy coverage of some species and limited coverage of others. Charisma, endemism, and rarity play a large role, as do species with large use values.
{"title":"The Nature of the Beast: Wildlife Valuation from the Iconic to the Ordinary","authors":"Lynne Lewis, Jennifer Raynor, Leslie Richardson","doi":"10.1146/annurev-resource-101623-093149","DOIUrl":"https://doi.org/10.1146/annurev-resource-101623-093149","url":null,"abstract":"Wildlife species generate significant economic value through recreational opportunities, ecosystem services, and their existence and preservation for future generations. Policymaker decisions about fish and wildlife conservation, population management, hunting and fishing limits, and damage assessments all rely to some extent on nonmarket valuation estimates of the species in question. Focusing on individual species, we present a comprehensive review of the nonmarket valuation literature from 1990 to 2023. We quantify studies by species and synthesize the characteristics of these species. We examine why certain species or uses have been the historical focus. Finally, we offer some insights into gaps in our knowledge and directions for future research. While the wildlife valuation literature is extensive, we question the scope of coverage and speculate on the reasons for such heavy coverage of some species and limited coverage of others. Charisma, endemism, and rarity play a large role, as do species with large use values.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"15 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141725779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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