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A Summary of Ecosystem Service Economic Valuation Methods and Recommendations for Future Studies

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Abstract

This short working paper summarizes ecosystem service economic valuation methods. The paper begins with an introduction to ecosystem services, and then describes the various methods that can be used to value them. An extensive literature review was carried out, illustrating those ecosystem service studies that attempted to value three or more ecosystem services using original data and more than one valuation method. Recommendations are then offered on how to conduct ecosystem service valuation studies.

Suggested Citation

  • Pamela Kaval, 2010. "A Summary of Ecosystem Service Economic Valuation Methods and Recommendations for Future Studies," Working Papers in Economics 10/02, University of Waikato.
  • Handle: RePEc:wai:econwp:10/02
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    File URL: ftp://wms-webprod1.mngt.waikato.ac.nz/RePEc/wai/econwp/1002.pdf
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    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. Luke Brander & Raymond Florax & Jan Vermaat, 2006. "The Empirics of Wetland Valuation: A Comprehensive Summary and a Meta-Analysis of the Literature," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 33(2), pages 223-250, February.
    3. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
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    More about this item

    Keywords

    ecosystem services; market valuation; non-market valuation;

    JEL classification:

    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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