If whooping cranes generate benefits to some members of society by merely their continued existence, then economic markets will consider this in arriving at a level of their provision "as if by an invisible hand."

Question

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Economic markets often fail to account for the existence value of species like whooping cranes because these benefits do not translate into market transactions. The "invisible hand" of the market typically does not consider non-market values such as the intrinsic or existence value of wildlife, leading to potential underprovision of conservation efforts for such species.

If Whooping Cranes Generate Benefits to Some Members of Society