The value of biodiversity: Markets, society, and ecosystems

The value of biodiversity is discussed at different levels including market value, nonmarket values to humans, and the value of biodiversity to ecosystems. The main conclusion is that, although market exchange values of environmental services may be used to justify biodiversity protection measures, it must be stressed that exchange value constitutes a small portion of total biodiversity value. The total value of existing biodiversity is largely unknown but indications are that it is essential to human existence. The various levels of biodiversity value point to the need for a hierarchical and pluralistic methodology to determine appropriate policies for its preservation.