Large carnivores provide ecosystem and cultural benefts but also impose costs on hunters due to the competition for game. The aim of this paper was to identify the marginal impact of lynx (Lynx lynx) and wolf (Canis lupus) on the harvest of roe deer (Capreolus capreolus) in Sweden and the value of this impact. We applied a production function approach, using a bioeconomic model where the annual number of roe deer harvested was assumed to be determined by hunting efort, abundance of predators, availability of other game, and winter severity. The impact of the predators on the roe deer harvests was estimated econometrically, and carnivore marginal impacts were derived. The results showed that if the roe deer resource was harvested under open ...