Common And Endangered Species: How Does Society Allocate Support For Their Conservation

Examines how society allocates support for species’ conservation when numbers involved are large and resources are limited. Rational behaviour suggests that species in urgent need of conservation will receive more support than those species that are common. However, we demonstrate that in the absence of balanced knowledge common species will receive support more than they would otherwise receive despite society placing high existence values on all species. Twenty four species, both common and endangered and some with a restricted distribution, are examined. We demonstrate that balanced information is vital in order to direct more support for species that are endangered than those that are not. Implications for conservation stemming from the findings are discussed.

Some Remarks on the Approximation of Transitional Density in Stochastic Differential Equations

Aijt-Sahalia (2002) introduced a method to estimate transitional probability densities of di®usion processes by means of Hermite expansions with coe±cients determined by means of Taylor series. This note describes a numerical procedure to ¯nd these coe±cients based on the calculation of moments. One advantage of this procedure is that it can be used e®ectively when the mathematical operations required to ¯nd closed-form expressions for these coe±cients are otherwise infeasible.