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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
A Biodiversity Indicator for Economic Analysis:
Assessing the Gulf of Mexico Oil Spill
Author(s): Yvonne Chen
Citation: Yvonne Chen, (2013) "A Biodiversity Indicator for Economic Analysis: Assessing the Gulf of Mexico Oil Spill," Journal of Applied Business and Economics, Vol. 14, Iss. 1, pp. 49-55
Article Type: Research paper
Publisher: North American Business Press
Abstract:
The objective of this study is to examine the bioeconomic value of biodiversity and its potential loss
stemming from species endangerment. Using a biodiversity model that highlights the importance of
taxonomic distances in determining its value, the research conducts a two-step analysis to investigate the
impact of Deep Horizon oil spill. First, a comparative analysis is performed to understand biodiversity
richness in the Gulf of Mexico area, in contrast to the Chesapeake Bay. Next, the study estimates the
impact caused by loss of species vulnerable to oil spill. The case concludes with insights into
understanding biodiversity loss and a strategy on managing conservation priorities to cope with oil spills.
