The valuation of ecosystem services

Edward B. Barbier; Stefan Baumgärtner; Kanchan Chopra; Christopher Costello; Anantha Duraiappah; Rashid Hassan; Ann P. Kinzig; Markus Lehman; Unai Pascual; Stephen Polasky; Charles Perrings

doi:10.1093/acprof:oso/9780199547951.003.0018

The valuation of ecosystem services

Edward B. Barbier, Stefan Baumgärtner, Kanchan Chopra, Christopher Costello, Anantha Duraiappah, Rashid Hassan, Ann P. Kinzig, Markus Lehman, Unai Pascual, Stephen Polasky, Charles Perrings

Applied Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter

76 Scopus citations

Abstract

By harnessing recent results on the relationship between biodiversity and ecosystem functioning to an assessment of the valued services that people obtain from the natural environment, the Millennium Ecosystem Assessment (MA) has brought the analysis of ecosystems into the domain of economics. Ecosystem services are defined by the MA as the benefits that people obtain from ecosystems. Since the value of any asset is simply the discounted stream of benefits that are obtained from that asset, the benefit streams associated with ecosystem services may be used to estimate the value of the underlying ecological assets. Those assets are not the traditional stocks of resource economics - minerals, water, timber and so on - but the systems that yield flows of such things. This chapter discusses the value of ecosystems and ecosystem services. It identifies the main methods for valuing different types of ecosystem service, and the role of valuation in developing sustainability indicators. The sustainability of economic development requires that the value of the assets or capital stocks supporting development be maintained over time, and since capital includes produced, human and natural capital, it is important to understand how the value of ecosystems may be changing relative to the value of other capital stocks.

Original language	English (US)
Title of host publication	Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective
Subtitle of host publication	An Ecological and Economic Perspective
Editors	Shahid Naeem, Daniel E. Bunker, Andy Hector, Michel Loreau, Charles Perrings
Place of Publication	New York, NY
Publisher	Oxford University Press
Pages	248-262
ISBN (Electronic)	9780191720345
ISBN (Print)	9780199547951
DOIs	https://doi.org/10.1093/acprof:oso/9780199547951.003.0018
State	Published - Jul 30 2009

Bibliographical note

Publisher Copyright:
© Oxford University Press 2009. All rights reserved.

Keywords

Ecosystem services
Revealed preference
Stated preference
Valuation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access

10.1093/acprof:oso/9780199547951.003.0018

OpenUrl availability

Full text

Cite this

Barbier, E. B., Baumgärtner, S., Chopra, K., Costello, C., Duraiappah, A., Hassan, R., Kinzig, A. P., Lehman, M., Pascual, U., Polasky, S., & Perrings, C. (2009). The valuation of ecosystem services. In S. Naeem, D. E. Bunker, A. Hector, M. Loreau, & C. Perrings (Eds.), Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective: An Ecological and Economic Perspective (pp. 248-262). Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199547951.003.0018

The valuation of ecosystem services. / Barbier, Edward B.; Baumgärtner, Stefan; Chopra, Kanchan et al.
Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective: An Ecological and Economic Perspective. ed. / Shahid Naeem; Daniel E. Bunker; Andy Hector; Michel Loreau; Charles Perrings. New York, NY: Oxford University Press, 2009. p. 248-262.

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Barbier, EB, Baumgärtner, S, Chopra, K, Costello, C, Duraiappah, A, Hassan, R, Kinzig, AP, Lehman, M, Pascual, U, Polasky, S & Perrings, C 2009, The valuation of ecosystem services. in S Naeem, DE Bunker, A Hector, M Loreau & C Perrings (eds), Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective: An Ecological and Economic Perspective. Oxford University Press, New York, NY, pp. 248-262. https://doi.org/10.1093/acprof:oso/9780199547951.003.0018

Barbier EB, Baumgärtner S, Chopra K, Costello C, Duraiappah A, Hassan R et al. The valuation of ecosystem services. In Naeem S, Bunker DE, Hector A, Loreau M, Perrings C, editors, Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective: An Ecological and Economic Perspective. New York, NY: Oxford University Press. 2009. p. 248-262 doi: 10.1093/acprof:oso/9780199547951.003.0018

Barbier, Edward B. ; Baumgärtner, Stefan ; Chopra, Kanchan et al. / The valuation of ecosystem services. Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective: An Ecological and Economic Perspective. editor / Shahid Naeem ; Daniel E. Bunker ; Andy Hector ; Michel Loreau ; Charles Perrings. New York, NY : Oxford University Press, 2009. pp. 248-262

@inbook{127315e93d4a4f7086a4d34f7f0ed95a,

title = "The valuation of ecosystem services",

abstract = "By harnessing recent results on the relationship between biodiversity and ecosystem functioning to an assessment of the valued services that people obtain from the natural environment, the Millennium Ecosystem Assessment (MA) has brought the analysis of ecosystems into the domain of economics. Ecosystem services are defined by the MA as the benefits that people obtain from ecosystems. Since the value of any asset is simply the discounted stream of benefits that are obtained from that asset, the benefit streams associated with ecosystem services may be used to estimate the value of the underlying ecological assets. Those assets are not the traditional stocks of resource economics - minerals, water, timber and so on - but the systems that yield flows of such things. This chapter discusses the value of ecosystems and ecosystem services. It identifies the main methods for valuing different types of ecosystem service, and the role of valuation in developing sustainability indicators. The sustainability of economic development requires that the value of the assets or capital stocks supporting development be maintained over time, and since capital includes produced, human and natural capital, it is important to understand how the value of ecosystems may be changing relative to the value of other capital stocks.",

keywords = "Ecosystem services, Revealed preference, Stated preference, Valuation",

author = "Barbier, {Edward B.} and Stefan Baumg{\"a}rtner and Kanchan Chopra and Christopher Costello and Anantha Duraiappah and Rashid Hassan and Kinzig, {Ann P.} and Markus Lehman and Unai Pascual and Stephen Polasky and Charles Perrings",

year = "2009",

month = jul,

day = "30",

doi = "10.1093/acprof:oso/9780199547951.003.0018",

language = "English (US)",

isbn = "9780199547951",

pages = "248--262",

editor = "Shahid Naeem and Bunker, {Daniel E.} and Andy Hector and Michel Loreau and Charles Perrings",

booktitle = "Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective",

publisher = "Oxford University Press",

}

TY - CHAP

T1 - The valuation of ecosystem services

AU - Barbier, Edward B.

AU - Baumgärtner, Stefan

AU - Chopra, Kanchan

AU - Costello, Christopher

AU - Duraiappah, Anantha

AU - Hassan, Rashid

AU - Kinzig, Ann P.

AU - Lehman, Markus

AU - Pascual, Unai

AU - Polasky, Stephen

AU - Perrings, Charles

PY - 2009/7/30

Y1 - 2009/7/30

N2 - By harnessing recent results on the relationship between biodiversity and ecosystem functioning to an assessment of the valued services that people obtain from the natural environment, the Millennium Ecosystem Assessment (MA) has brought the analysis of ecosystems into the domain of economics. Ecosystem services are defined by the MA as the benefits that people obtain from ecosystems. Since the value of any asset is simply the discounted stream of benefits that are obtained from that asset, the benefit streams associated with ecosystem services may be used to estimate the value of the underlying ecological assets. Those assets are not the traditional stocks of resource economics - minerals, water, timber and so on - but the systems that yield flows of such things. This chapter discusses the value of ecosystems and ecosystem services. It identifies the main methods for valuing different types of ecosystem service, and the role of valuation in developing sustainability indicators. The sustainability of economic development requires that the value of the assets or capital stocks supporting development be maintained over time, and since capital includes produced, human and natural capital, it is important to understand how the value of ecosystems may be changing relative to the value of other capital stocks.

AB - By harnessing recent results on the relationship between biodiversity and ecosystem functioning to an assessment of the valued services that people obtain from the natural environment, the Millennium Ecosystem Assessment (MA) has brought the analysis of ecosystems into the domain of economics. Ecosystem services are defined by the MA as the benefits that people obtain from ecosystems. Since the value of any asset is simply the discounted stream of benefits that are obtained from that asset, the benefit streams associated with ecosystem services may be used to estimate the value of the underlying ecological assets. Those assets are not the traditional stocks of resource economics - minerals, water, timber and so on - but the systems that yield flows of such things. This chapter discusses the value of ecosystems and ecosystem services. It identifies the main methods for valuing different types of ecosystem service, and the role of valuation in developing sustainability indicators. The sustainability of economic development requires that the value of the assets or capital stocks supporting development be maintained over time, and since capital includes produced, human and natural capital, it is important to understand how the value of ecosystems may be changing relative to the value of other capital stocks.

KW - Ecosystem services

KW - Revealed preference

KW - Stated preference

KW - Valuation

UR - http://www.scopus.com/inward/record.url?scp=84920070117&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84920070117&partnerID=8YFLogxK

U2 - 10.1093/acprof:oso/9780199547951.003.0018

DO - 10.1093/acprof:oso/9780199547951.003.0018

M3 - Chapter

AN - SCOPUS:84920070117

SN - 9780199547951

SP - 248

EP - 262

BT - Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective

A2 - Naeem, Shahid

A2 - Bunker, Daniel E.

A2 - Hector, Andy

A2 - Loreau, Michel

A2 - Perrings, Charles

PB - Oxford University Press

CY - New York, NY

ER -

The valuation of ecosystem services

Abstract

Bibliographical note

Keywords

UN SDGs

Access

OpenUrl availability

Other files and links

Fingerprint

Cite this