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Notes on “Conservation Reconsidered” by John Krutilla
Prepared by Emma Aisbett, Fall 2003
Krutilla, J. (1967) “Conservation Reconsidered” American Economic Review, September 1967, p. 777-786.
Overview:
This paper is one of the seminal works in environmental economics. Krutilla discusses many of the concepts that form the basis of environmental economics today, although, to a reader familiar with the current literature, it is obvious that these concepts were not all that well developed back in 1967.
Krutillas stated objective in the paper is to consider:
“On what basis can we,.. make decisions
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