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

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dc.contributor.authorTinch, Robert
dc.contributor.authorBeaumont, Nicola
dc.contributor.authorSunderland, Tim
dc.contributor.authorOzdemiroglu, Ece
dc.contributor.authorBarton, David
dc.contributor.authorBowe, Colm
dc.contributor.authorBörger, Tobias
dc.contributor.authorBurgess, Paul
dc.contributor.authorCooper, Canon Nigel
dc.contributor.authorFaccioli, Michela
dc.contributor.authorFailler, Pierre
dc.contributor.authorGkolemi, Ioanna
dc.contributor.authorKumar, Ritesh
dc.contributor.authorLongo, Alberto
dc.contributor.authorMcVittie, Alistair
dc.contributor.authorMorris, Joe
dc.contributor.authorPark, Jacob
dc.contributor.authorRavenscroft, Neil
dc.contributor.authorSchaafsma, Marije
dc.contributor.authorVause, James
dc.contributor.authorZiv, Guy
dc.date.accessioned2019-06-14T13:47:30Z
dc.date.available2019-06-14T13:47:30Z
dc.date.issued2019-06-11
dc.description.abstractThere 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.identifier.citationTinch 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. 359-378en_UK
dc.identifier.issn2160-6544
dc.identifier.urihttps://doi.org/10.1080/21606544.2019.1623083
dc.identifier.urihttp://dspace.lib.cranfield.ac.uk/handle/1826/14248
dc.language.isoenen_UK
dc.publisherTaylor and Francisen_UK
dc.rightsAttribution-NonCommercial 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/*
dc.subjectEconomic valuationen_UK
dc.subjectcriticisms of economic valuationen_UK
dc.subjectstated preferenceen_UK
dc.subjectrevealed preferenceen_UK
dc.subjectexternalitiesen_UK
dc.subjectecosystem servicesen_UK
dc.subjectpolicy appraisalen_UK
dc.subjectdecision supporten_UK
dc.titleEconomic valuation of ecosystem goods and services: a review for decision makersen_UK
dc.typeArticleen_UK

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