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Ecosystem Services - Ökonomische Analyse ihres Verlusts, ihre Bewertung und Steuerung
[Ecosystem Services - Economic Analysis of their loss, their valuation and regulation]

Author

Listed:
  • Loft, Lasse
  • Lux, Alexandra

Abstract

The Knowledge Flow Paper at hand gives an overview of the economic reasons for the loss of biodiversity and eco¬system services, i.e. the public goods character and externalities. It points out that natural ecosystems have a higher economic value than currently reflected by market prices. The paper then focuses on policy instruments particularly Payments for Ecosystem Services (PES) that take into account those values which are not refelected by markets. For the design of policy instruments subjective preferences of the stakeholders concerning the use of ecosystem services are an important information. In economics these preferences are typically narrowed down to a monetary value. Therefore the paper deals with the opportunities and challenges of methods for economic valuation of ecosystem services. It concludes that these methods have restrictions and that it will be impossible to come up with a precise global monetary value, because subjective preferences differ in time and from on place to another. On a smaller scale however monetary values can be generated more precise. Economic valuation is thus seen as an additional criteria in decision making besides ecological assessments and ethics.

Suggested Citation

  • Loft, Lasse & Lux, Alexandra, 2010. "Ecosystem Services - Ökonomische Analyse ihres Verlusts, ihre Bewertung und Steuerung
    [Ecosystem Services - Economic Analysis of their loss, their valuation and regulation]
    ," MPRA Paper 44259, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:44259
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/44259/1/MPRA_paper_44259.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. de Groot, Rudolf S. & Wilson, Matthew A. & Boumans, Roelof M. J., 2002. "A typology for the classification, description and valuation of ecosystem functions, goods and services," Ecological Economics, Elsevier, vol. 41(3), pages 393-408, June.
    2. Brander, Luke M. & Van Beukering, Pieter & Cesar, Herman S.J., 2007. "The recreational value of coral reefs: A meta-analysis," Ecological Economics, Elsevier, vol. 63(1), pages 209-218, June.
    3. Engel, Stefanie & Pagiola, Stefano & Wunder, Sven, 2008. "Designing payments for environmental services in theory and practice: An overview of the issues," Ecological Economics, Elsevier, vol. 65(4), pages 663-674, May.
    4. Vatn, Arild, 2010. "An institutional analysis of payments for environmental services," Ecological Economics, Elsevier, vol. 69(6), pages 1245-1252, April.
    5. Ojea, Elena & Loureiro, Maria L., 2007. "Altruistic, egoistic and biospheric values in willingness to pay (WTP) for wildlife," Ecological Economics, Elsevier, vol. 63(4), pages 807-814, September.
    6. Crowards, Tom M., 1998. "Safe Minimum Standards: costs and opportunities," Ecological Economics, Elsevier, vol. 25(3), pages 303-314, June.
    7. Loft, Lasse & Lux, Alexandra, 2010. "Ecosystem Services - Eine Einführung
      [Ecosystem Services - An introduction]
      ," MPRA Paper 44258, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Ecosystem Services; Biodiversity; valuation;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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