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A novel framework to operationalise value-pluralism in environmental valuation: Environmental value functions

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  • Palola, Pirta
  • Bailey, Richard
  • Wedding, Lisa

Abstract

The environmental valuation literature has, to date, been governed by the single ontology/epistemology of neoclassical environmental economics and monetary valuation, which has led to a mis- or un-representation of other ways of understanding and conceptualising environmental value. Consequently, calls have been made to better represent plural values in environmental valuation studies. Additionally, the environmental valuation literature has been characterised by a prevalent focus on the assessment of total or absolute value of ecosystems. Yet, there appears to be a consensus that the examination of marginal or relative changes in value would in fact be more informative.

Suggested Citation

  • Palola, Pirta & Bailey, Richard & Wedding, Lisa, 2022. "A novel framework to operationalise value-pluralism in environmental valuation: Environmental value functions," Ecological Economics, Elsevier, vol. 193(C).
    • Handle: RePEc:eee:ecolec:v:193:y:2022:i:c:s0921800921003864
    DOI: 10.1016/j.ecolecon.2021.107327
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