Why economics matters for endangered species protection

We offer three reasons why economics matters more to species protection tha n many people think and what this implies for the ongoing debate or,er the reauthorization of the Endangered Species Act of 1973. Economics matters be cause (I) human behavior generally, and economic parameters in particular, help determine the degree of risk to a species; (2) il a world of scarce re sources, the opportunity cost of species protection-the costs of reduced re sources for other worthwhile causes-must De taken into account in decision making: and (3) economic incentives are critical ii shaping human behavior, and consequently the recovery of species. Endangered species protection th at explicitly addresses these basic principles can avoid wasting valuable r esources that yield no gain in species protection.