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Valuing Ecosystem Services: A New Paradigm Shift



The ways in which economists value natural resources has been, and continues to be, a constantly evolving process. At first, only transactions that took place in the marketplace were considered. However, it was not long until it was realised that this concept was an incomplete way to value natural resources and hence the concept of non-market valuation was introduced. These non-market valuation methodologies prevailed for about 50 or 60 years, but, at the present time, it is being realised that the current methodologies are incomplete and it is time for another new paradigm shift. The market and non-market valuation calculations currently used only include anthropocentric (human related) values and have omitted ecocentric ecosystem service values such as the pollination of crops that takes place by bees and flies. The question we are posed with now is how to calculate the true value for ecosystem services in given this new paradigm shift?

Suggested Citation

  • Pamela Kaval, 2006. "Valuing Ecosystem Services: A New Paradigm Shift," Working Papers in Economics 06/10, University of Waikato.
  • Handle: RePEc:wai:econwp:06/10

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    References listed on IDEAS

    1. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
    2. W. Michael Hanemann, 1994. "Valuing the Environment through Contingent Valuation," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 19-43, Fall.
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    More about this item


    ecosystem services; non-market valuation; consumer surplus;

    JEL classification:

    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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