The valuation of ecosystem services

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

Research output: Contributions to collected editions/works › Chapter › peer-review

85 Citations (Scopus)

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
Title of host publication	Biodiversity, ecosystem functioning, and human wellbeing : An Ecological and Economic Perspective
Editors	Shahid Naeem, Daniel E. Bunker, Andy Hector, Michel Loreau, Charles Perrings
Number of pages	15
Place of Publication	Oxford [u.a.]
Publisher	Oxford University Press
Publication date	30.07.2009
Pages	248-262
ISBN (Print)	978-019954795-1
ISBN (Electronic)	978-019172034-5
DOIs	https://doi.org/10.1093/acprof:oso/9780199547951.003.0018
Publication status	Published - 30.07.2009

Bibliographical note

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

UN SDGs

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

SDG 8 Decent Work and Economic Growth

Research areas and keywords

Sustainability sciences, Management & Economics
Ecosystem services
Revealed preference
Stated preference
Valuation
Economics

Access to Document

10.1093/acprof:oso/9780199547951.003.0018

Nachhaltige Nutzung von Ökosystemdienstleistungen unter Unsicherheit. Ökologisch-ökonomische Modellierung und Evaluierung volkswirtschaftlicher Politikoptionen
Baumgärtner, S. (Project manager, academic), Quaas, M. F. (Project manager, academic), Olbrich, R. (Project staff), Derissen, S. (Project staff), Jakoby, O. (Project staff) & Groth, M. (Project staff)
Federal Ministry of Education and Research
01.02.07 → 31.07.10
Project: Research

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 (pp. 248-262). Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199547951.003.0018

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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. Oxford University Press, Oxford [u.a.], pp. 248-262. 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. ed. / Shahid Naeem; Daniel E. Bunker; Andy Hector; Michel Loreau; Charles Perrings. Oxford [u.a.]: Oxford University Press, 2009. p. 248-262.

Research output: Contributions to collected editions/works › Chapter › peer-review

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, Anna 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 - Sustainability sciences, Management & Economics

KW - Ecosystem services

KW - Revealed preference

KW - Stated preference

KW - Valuation

KW - Economics

UR - https://www.scopus.com/pages/publications/84920070117

UR - https://www.mendeley.com/catalogue/1ca58952-a1d5-3fc9-b749-1fca9c849cc1/

U2 - 10.1093/acprof:oso/9780199547951.003.0018

DO - 10.1093/acprof:oso/9780199547951.003.0018

M3 - Chapter

SN - 978-019954795-1

SP - 248

EP - 262

BT - Biodiversity, ecosystem functioning, and human wellbeing

A2 - Naeem, Shahid

A2 - Bunker, Daniel E.

A2 - Hector, Andy

A2 - Loreau, Michel

A2 - Perrings, Charles

PB - Oxford University Press

CY - Oxford [u.a.]

ER -

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. Oxford [u.a.]: Oxford University Press. 2009. p. 248-262 doi: 10.1093/acprof:oso/9780199547951.003.0018

The valuation of ecosystem services

Abstract

Bibliographical note

UN SDGs

Research areas and keywords

Access to Document

Fingerprint

Projects

Nachhaltige Nutzung von Ökosystemdienstleistungen unter Unsicherheit. Ökologisch-ökonomische Modellierung und Evaluierung volkswirtschaftlicher Politikoptionen

Cite this