There is an extractive use value because we are using some species for chemicals to make drugs. There are also non-use values associated with the marine species, such as the option value. We want to place value on the resource now to preserve it for use in the future, before it goes extinct. A quasi-option value also exists because there are many species that probably contain chemicals which can be used to make different medicines, that we have not discovered yet.
This is definitely a quasi-option value. The value of something that could possibly be found within a resource, but has not yet been discovered. Unfortunately, as long as we continue to lose biodiversity across the planet, we will continue to lose the value from possibly extracting this resource.
The quasi option value is defiantly lost with the extinction of each species. With further research and technology in the future there are many possibilities of what we could potentially find but that possibility is lost with the extinction of the species. I cannot remember my account name or anything so I just posted this as anonymous but it is Evan Netsch
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