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How Much is that Ecosystem in the Window? The One with the Bio-diverse Trail

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  • Clive L. Spash

Abstract

Ecosystems are increasingly characterised as goods and services to allow their valuation in monetary terms. This follows an orthodox economic approach to environmental values, but is also being undertaken by ecologists and conservation biologists. There then appears a lack of clarity and debate as to the model of human behaviour, specific values and decision process being adopted. Arguments for ecosystems service valuation are critically appraised and the case for a model leading to value pluralism is presented. The outcome is to identify the need for value articulating processes which involve open deliberative judgment rather than instantaneously stated preferences, concealed expert opinion and global cost-benefit analysis.

Suggested Citation

  • Clive L. Spash, 2008. "How Much is that Ecosystem in the Window? The One with the Bio-diverse Trail," Environmental Values, White Horse Press, vol. 17(2), pages 259-284, May.
  • Handle: RePEc:env:journl:ev17:ev1714
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    Keywords

    Biodiversity; ecosystems services; economic valuation; judgement;

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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