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Economic valuation of biodiversity: A comparative study

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  • Nijkamp, Peter
  • Vindigni, Gabriella
  • Nunes, Paulo A.L.D.

Abstract

In recent years, an intensive debate on the economic valuation of biodiversity has entered the environmental-economics literature. The present paper seeks to offer first a critical review of key concepts that are essential for a proper understanding of such evaluation issues. Particular attention is given here to various monetary valuation approaches and to comparative (i.e., meta-analytical) methods from the perspective of conservation and sustainable use of biodiversity. Several illustrative examples are presented in order to highlight the usefulness of the various approaches discussed. Next, an attempt is made to infer general findings and lessons from past applied research by means of meta-analysis. In this context, a multi-dimensional technique originating from the field of artificial intelligence is deployed. It allows us to identify the most important variables responsible for changes in economic estimates of biodiversity.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 67 (2008)
Issue (Month): 2 (September)
Pages: 217-231

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Handle: RePEc:eee:ecolec:v:67:y:2008:i:2:p:217-231

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Web page: http://www.elsevier.com/locate/ecolecon

Related research

Keywords: Meta-analysis Biodiversity values Policy formulation Non-market valuation methods Market valuation methods Benefit transfer;

References

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  9. Nunes, Paulo A. L. D. & van den Bergh, Jeroen C. J. M., 2001. "Economic valuation of biodiversity: sense or nonsense?," Ecological Economics, Elsevier, vol. 39(2), pages 203-222, November.
  10. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
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  12. Paulo A.L.D. Nunes & Laura Onofri, 2004. "The Profile of a “Warm-Glower”: A Note on Consumer’s Behavior and Public Policy Implications," Working Papers 2004.113, Fondazione Eni Enrico Mattei.
  13. Walsh, Richard G. & Johnson, Donn M. & McKean, John R., 1989. "Issues In Nonmarket Valuation And Policy Application: A Retrospective Glance," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July.
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  15. Kirchhoff, Stefanie & Colby, Bonnie G. & LaFrance, Jeffrey T., 1997. "Evaluating the Performance of Benefit Transfer: An Empirical Inquiry," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 75-93, May.
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Citations

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Cited by:
  1. Buszko-Briggs, Malgorzata & Czajkowski, Mikolaj & Hanley, Nicholas, 2008. "Valuing Changes in Forest Biodiversity," Stirling Economics Discussion Papers 2008-17, University of Stirling, Division of Economics.
  2. Amitrajeet A. Batabyal & Peter Nijkamp, 2013. "Biodiversity Prospecting over Time and under Uncertainty: A Theory of Sorts," Tinbergen Institute Discussion Papers 13-163/VIII, Tinbergen Institute.
  3. Delucchi, Mark A. & McCubbin, Donald R., 2010. "External Costs of Transport in the U.S," Institute of Transportation Studies, Working Paper Series qt13n8v8gq, Institute of Transportation Studies, UC Davis.
  4. Erwin, Patrick M. & López-Legentil, Susanna & Schuhmann, Peter W., 2010. "The pharmaceutical value of marine biodiversity for anti-cancer drug discovery," Ecological Economics, Elsevier, vol. 70(2), pages 445-451, December.
  5. Morimoto, Risako, 2013. "Incorporating socio-environmental considerations into project assessment models using multi-criteria analysis: A case study of Sri Lankan hydropower projects," Energy Policy, Elsevier, vol. 59(C), pages 643-653.
  6. Andrea Ghermandi & Paulo A.L.D. Nunes, 2011. "A Global Map of Costal Recreation Values: results from a spatially explicit meta-analysis," Working Papers 2011_08, Department of Economics, University of Venice "Ca' Foscari".
  7. Christopher Ambrey & Christopher Fleming, 2014. "Valuing Ecosystem Diversity in South East Queensland: A Life Satisfaction Approach," Social Indicators Research, Springer, vol. 115(1), pages 45-65, January.
  8. Marin, Giovanni, 2009. "Valutazione economica della biodiversità marina e costiera nel Nord Adriatico: situazione socio-economica dell’area considerata e trasferimento del beneficio
    [Economic valuation of marine and co
    ," MPRA Paper 17793, University Library of Munich, Germany.
  9. Ambrey, Christopher L. & Fleming, Christopher M., 2011. "Valuing Ecosystem Diversity in South East Queensland: A Life Satisfaction Approach," 2011 Conference, August 25-26, 2011, Nelson, New Zealand 115347, New Zealand Agricultural and Resource Economics Society.
  10. Ressurreição, Adriana & Gibbons, James & Dentinho, Tomaz Ponce & Kaiser, Michel & Santos, Ricardo S. & Edwards-Jones, Gareth, 2011. "Economic valuation of species loss in the open sea," Ecological Economics, Elsevier, vol. 70(4), pages 729-739, February.
  11. Sonja S. Teelucksingh & Paulo A.L.D. Nunes, 2010. "Biodiversity Valuation in Developing Countries: A Focus on Small Island Developing States (SIDS)," Working Papers 2010.111, Fondazione Eni Enrico Mattei.
  12. Useche, Pilar & Blare, Trent, 2013. "Traditional vs. modern production systems: Price and nonmarket considerations of cacao producers in Northern Ecuador," Ecological Economics, Elsevier, vol. 93(C), pages 1-10.
  13. Luke Brander & Andrea Ghermandi & Onno Kuik & Anil Markandya & Paulo A.L.D. Nunes & Marije Schaafsma & Alfred Wagtendonk, 2010. "Scaling up Ecosystem Services Values: Methodology, Applicability and a Case Study," Working Papers 2010.41, Fondazione Eni Enrico Mattei.
  14. Giani GRADINARU, 2013. "Methods And Techniques For Quantifying The Value Of Ecosystem Services," Romanian Statistical Review, Romanian Statistical Review, vol. 61(5), pages 29-44, June.

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