Economic valuation of ecosystem goods and services: a review for decision makers

Show simple item record Tinch, Robert Beaumont, Nicola Sunderland, Tim Ozdemiroglu, Ece Barton, David Bowe, Colm Börger, Tobias Burgess, Paul Cooper, Canon Nigel Faccioli, Michela Failler, Pierre Gkolemi, Ioanna Kumar, Ritesh Longo, Alberto McVittie, Alistair Morris, Joe Park, Jacob Ravenscroft, Neil Schaafsma, Marije Vause, James Ziv, Guy 2019-06-14T13:47:30Z 2019-06-14T13:47:30Z 2019-06-11
dc.identifier.citation Tinch R, Beamont N, Sunderland T, et al., (2019) Economic valuation of ecosystem goods and services: a review for decision makers. Journal of Environmental Economics and Policy, Volume 8, Issue 4, 2019, pp. 359-378 en_UK
dc.identifier.issn 2160-6544
dc.description.abstract There is increasing interest in the use of economic valuation of ecosystem goods and services for a wide variety of purposes. These include relatively familiar uses in project appraisal and more novel applications in advocacy, performance tracking and accounting in public and private settings. Decision makers who use valuation information need to understand the background, strengths and weaknesses of these approaches. The methods have a strong foundation in economic theory and offer a rapidly growing evidence base, improving ability to evaluate a broad range of ecosystem goods and services. Nevertheless, there are theoretical and practical limitations that need to be understood and kept in mind when interpreting results. In this paper, we briefly review the economic valuation methods and situate them in their historical and theoretical contexts. We assess the main critiques, attempts at resolving them, and implications for the usefulness of the methods in different contexts. We examine the main barriers and opportunities for wider uses of valuation evidence, and draw conclusions on the appropriate role of valuation in future, as a tool for aiding reflection and deliberation processes. en_UK
dc.language.iso en en_UK
dc.publisher Taylor and Francis en_UK
dc.rights Attribution-NonCommercial 4.0 International *
dc.rights.uri *
dc.subject Economic valuation en_UK
dc.subject criticisms of economic valuation en_UK
dc.subject stated preference en_UK
dc.subject revealed preference en_UK
dc.subject externalities en_UK
dc.subject ecosystem services en_UK
dc.subject policy appraisal en_UK
dc.subject decision support en_UK
dc.title Economic valuation of ecosystem goods and services: a review for decision makers en_UK
dc.type Article en_UK

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