Although traditional population fragmentation theory and management ha
s been strongly oriented toward concerns arising from inbreeding depre
ssion, recent papers suggest that small populations will be eliminated
by demographic and/or environmental events before inbreeding becomes
a problem. We explore the interaction between these factors by develop
ing a stochastic, discrete time Leslie model that incorporates inbreed
ing depression. We model small population dynamics with three realisti
c demographic schedules: low growth rate ''ungulates,'' medium growth
rate ''felids,'' and high growth rate ''rodents,'' examining the impac
t of survival and fertility depression commensurate with inbreeding ef
fects reported in the literature. Focusing on the first few generation
s after habitat fragmentation and isolation, we find that (a) high gro
wth rate populations are affected only by strong inbreeding depression
, but low growth rate populations are extremely vulnerable to even min
or inbreeding depression; (b) vulnerability to extinction is affected
more by survival depression than by fecundity depression; and (c) redu
ctions in the sex ratio exacerbate inbreeding accumulation and hence e
xtinction rate. Counter to the current fashion, which downplays the im
portance of inbreeding in stochastic environments, we conclude that, w
hile inbreeding depression is not necessarily the primary cause of ext
inction, it can be critical.