Modelling Species Extinction: The Case for Non-Consumptive Values
Conservation of endangered species is a multifaceted problem with species facing pressure from competition for land, from direct exploitation and from a lack of effective management. A model is developed, using the African elephant as an example, to highlight the key economic factors that are influential in determining the fate of an endangered species. Particular emphasis is placed on the role of non-consumptive values as a key component of species’ survival. It is demonstrated that, in many cases, some existence value must be appropriated to the resource in order for extinction to be avoided.