This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Valuing Ecosystems - A Methodological Applying Approach

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Isabel Mendes

Additional information is available for the following registered author(s):

Abstract

In this paper the ecosystem’s valuation framework is described and discussed at a conceptual and formal level. Following utilitarianism and the capital asset analogy, one defines the concept of ecosystem value and how to quantify it by using individual preference based techniques rooted in welfare economics, namely stated individual preference techniques like Contingent Valuation. Several controversial questions arise when one tries to compute ecosystem’s value by using utilitarianism and the capital asset analogy due to the particular ecosystem’s natural specifics and the limitations of the economic theoretical framework. These controversial questions are enumerated, analysed, and the most commonly practitioner practices used to overcome the theoretical and technical difficulties of the appliance are assessed.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://pascal.iseg.utl.pt/~depeco/wp/wp112004.pdf
File Format: application/pdf
File Function:
Download Restriction: no

Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2004/11.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: 2004
Date of revision:
Handle: RePEc:ise:isegwp:wp112004

Contact details of provider:
Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

For technical questions regarding this item, or to correct its listing, contact: (Vitor Escaria).

Related research
Keywords: Ecosystem; Valuation; Total Economic Value; Utilitarian Discounting; Contingent Valuation Method.;

Other versions of this item:

Find related papers by JEL classification:
Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
M4 - Business Administration and Business Economics; Marketing; Accounting - - Accounting

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-47, June. [Downloadable!] (restricted)
  2. Loewenstein, George & Thaler, Richard H, 1989. "Intertemporal Choice," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 181-93, Fall. [Downloadable!] (restricted)
  3. Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207. [Downloadable!] (restricted)
  4. Spash, Clive L., 2000. "Ecosystems, contingent valuation and ethics: the case of wetland re-creation," Ecological Economics, Elsevier, vol. 34(2), pages 195-215, August. [Downloadable!] (restricted)
  5. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
  6. Isabel Mendes, 2003. "Pricing Recreation use of National Parks for an efficient Nature Conservation and Application to the Portuguese case," Working Papers 2003/08, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  7. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March. [Downloadable!] (restricted)
  8. Loewenstein, George & Prelec, Drazen, 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 573-97, May. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  10. Richard Carson & Robert Mitchell & Michael Hanemann & Raymond Kopp & Stanley Presser & Paul Ruud, 2003. "Contingent Valuation and Lost Passive Use: Damages from the Exxon Valdez Oil Spill," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 25(3), pages 257-286, July. [Downloadable!] (restricted)
  11. Weitzman, Martin L., 1998. "Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 201-208, November. [Downloadable!] (restricted)
  12. Lankford, R. Hamilton, 1988. "Measuring welfare changes in settings with imposed quantities," Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 45-63, March. [Downloadable!] (restricted)
  13. Portney, Paul R, 1994. "The Contingent Valuation Debate: Why Economists Should Care," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 3-17, Fall. [Downloadable!] (restricted)
  14. Metrick, Andrew & Weitzman, Martin L, 1998. "Conflicts and Choices in Biodiversity Preservation," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 21-34, Summer. [Downloadable!] (restricted)
    Other versions:
  15. Harvey, Charles M., 1994. "The reasonableness of non-constant discounting," Journal of Public Economics, Elsevier, vol. 53(1), pages 31-51, January. [Downloadable!] (restricted)
  16. Randall, Alan & Stoll, John R, 1980. "Consumer's Surplus in Commodity Space," American Economic Review, American Economic Association, vol. 70(3), pages 449-55, June. [Downloadable!] (restricted)
  17. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September. [Downloadable!] (restricted)
Full references

Statistics
Access and download statistics

Did you know? RePEc and its associated services are free for contributors and users, and do not accept any advertising.

This page was last updated on 2009-11-20.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.