@article{Simpson:10551,
      recid = {10551},
      author = {Simpson, R. David},
      title = {Definitions of Biodiversity and Measures of Its Value},
      address = {2002},
      number = {1318-2016-103166},
      series = {Discussion Paper 02-62},
      pages = {20},
      year = {2002},
      abstract = {The destruction of natural habitats has prompted concerns  about the loss of biological diversity. Regrettably,  however, there is no consensus among either biologists or  economists on the most meaningful measures of biodiversity.  Fundamentally different definitions are useful in asking  fundamentally different questions. Considerable attention  has been given to the value of diversity in search models.  A measure of "aggregate variability" is appropriate to such  models. Values derived from search models tend to be well  behaved; they exhibit diminishing returns in diversity. In  contrast, a definition of diversity as "relative abundance"  is more appropriate to more complex objective functions.  Values derived in these models are not necessarily well  behaved. The differences between diversity values arising  in search models and those arising from more general  objectives are demonstrated. An example shows that  "consistency tests" applied to measures of valuation may  not be useful when diversity per se is being valued.},
      url = {http://ageconsearch.umn.edu/record/10551},
      doi = {https://doi.org/10.22004/ag.econ.10551},
}