Twenty Thousand Sterling Under the Sea: Estimating the value of protecting deep-sea biodiversity
The deep-sea includes over 90% of the world oceans and is thought to be one of the most diverse ecosystems in the World. It supplies society with valuable ecosystem services, including the provision of food, the regeneration of nutrients and the sequestration of carbon. Technological advancements in the second half of the 20th century made large-scale exploitation of mineral-, hydrocarbon- and fish resources possible. These economic activities, combined with climate change impacts, constitute a considerable threat to deep-sea biodiversity. Many governments, including that of the UK, have therefore decided to implement additional protected areas in their waters of national jurisdiction. To support the decision process and to improve our understanding for the acceptance of marine conservation plans across the general public, a choice experiment survey asked Scottish households for their willingness-to-pay for additional marine protected areas in the Scottish deep-sea. This study is one of the first to use valuation methodologies to investigate public preferences for the protection of deep-sea ecosystems. The experiment focused on the elicitation of economic values for two aspects of biodiversity: (i) the existence value for deep-sea species and (ii) the option-use value of deep-sea organisms as a source for future medicinal products.
|Date of creation:||2013|
|Contact details of provider:|| Postal: Division of Economics, University of Stirling, Stirling, Scotland FK9 4LA|
Phone: +44 (0)1786 467473
Fax: +44 (0)1786 467469
Web page: http://www.econ.stir.ac.uk/
More information through EDIRC
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.:
- Mandy Ryan & Diane Skåtun, 2004. "Modelling non-demanders in choice experiments," Health Economics, John Wiley & Sons, Ltd., vol. 13(4), pages 397-402.
- Turpie, Jane K., 2003. "The existence value of biodiversity in South Africa: how interest, experience, knowledge, income and perceived level of threat influence local willingness to pay," Ecological Economics, Elsevier, vol. 46(2), pages 199-216, September.
- Richard Carson & Jordan Louviere, 2011. "A Common Nomenclature for Stated Preference Elicitation Approaches," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 49(4), pages 539-559, August.
- Hussain, S. Salman & Winrow-Giffin, Alexandra & Moran, Dominic & Robinson, Leonie A. & Fofana, Abdulai & Paramor, Odette A.L. & Frid, Chris L.J., 2010. "An ex ante ecological economic assessment of the benefits arising from marine protected areas designation in the UK," Ecological Economics, Elsevier, vol. 69(4), pages 828-838, February.
- Louviere,Jordan J. & Hensher,David A. & Swait,Joffre D., 2000. "Stated Choice Methods," Cambridge Books, Cambridge University Press, number 9780521788304.
- McVittie, Alistair & Moran, Dominic, 2010. "Valuing the non-use benefits of marine conservation zones: An application to the UK Marine Bill," Ecological Economics, Elsevier, vol. 70(2), pages 413-424, December.
- Boyd, James & Banzhaf, Spencer, 2007. "What are ecosystem services? The need for standardized environmental accounting units," Ecological Economics, Elsevier, vol. 63(2-3), pages 616-626, August.
- Barkmann, J. & Glenk, K. & Keil, A. & Leemhuis, C. & Dietrich, N. & Gerold, G. & Marggraf, R., 2008. "Confronting unfamiliarity with ecosystem functions: The case for an ecosystem service approach to environmental valuation with stated preference methods," Ecological Economics, Elsevier, vol. 65(1), pages 48-62, March.
- Chan, Kai M.A. & Satterfield, Terre & Goldstein, Joshua, 2012. "Rethinking ecosystem services to better address and navigate cultural values," Ecological Economics, Elsevier, vol. 74(C), pages 8-18.
- 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.
- Spash, Clive L. & Hanley, Nick, 1995.
"Preferences, information and biodiversity preservation,"
Elsevier, vol. 12(3), pages 191-208, March.
- Nick Hanley & Clive L Spash, 1993. "Preferences, Information and Biodiversity Preservation," Working Papers Series 93/12, University of Stirling, Division of Economics.
- Spash, Clive L. & Hanley, N, 1994. "Preferences, information and biodiversity preservation," MPRA Paper 38351, University Library of Munich, Germany.
- Christie, Mike & Hanley, Nick & Warren, John & Murphy, Kevin & Wright, Robert & Hyde, Tony, 2006. "Valuing the diversity of biodiversity," Ecological Economics, Elsevier, vol. 58(2), pages 304-317, June.
- Meinard, Yves & Grill, Philippe, 2011. "The economic valuation of biodiversity as an abstract good," Ecological Economics, Elsevier, vol. 70(10), pages 1707-1714, August.
- Leary, David & Vierros, Marjo & Hamon, Gwenaëlle & Arico, Salvatore & Monagle, Catherine, 2009. "Marine genetic resources: A review of scientific and commercial interest," Marine Policy, Elsevier, vol. 33(2), pages 183-194, March.
- Editors, 2003. "Editor's Introduction," American Journal of Economics and Sociology, Wiley Blackwell, vol. 62(2), pages 315-318, April.
- Editors, 2003. "Editor's Introduction," American Journal of Economics and Sociology, Wiley Blackwell, vol. 62(4), pages 645-648, October.
- Glenn, H. & Wattage, P. & Mardle, S. & Rensburg, T. Van & Grehan, A. & Foley, N., 2010. "Marine protected areas--substantiating their worth," Marine Policy, Elsevier, vol. 34(3), pages 421-430, May. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:stl:stledp:2013-04. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Liam Delaney)
If references are entirely missing, you can add them using this form.