Environmental Values 17(2008): 489-503. doi: 10.3197/096327108X368502
Monetary valuation of ecosystem services is a widely used approach to quantify the benefits supplied by the natural environment to society. An alternative approach is the monetary valuation of ecosystem functions, which is defined as the capacity of the ecosystem to supply services. Using two European case-study areas, this paper explores the relative advantages of the two valuation approaches. This is done using a conceptual analysis, a qualitative application, and an overall comparison of both approaches. It is concluded that both approaches can be defended on theoretical grounds, and - if properly applied - will provide the same value estimates. However, valuation of ecosystem services is preferred from a practical point of view. Because there is no one-to-one match between functions and services, researchers should be consistent in their valuation approach. To avoid overlooking or overlapping of values, valuation should either be solely based on functions, or solely based on services.
Environmental valuation, ecosystem functions, ecosystem services
REFERENCES to other articles in Environmental Values:
The Project Tiger Crisis in India: Moving Away from the Policy and Economics of Selectivity. A. Damodaran
Finding Value in Nature. Thomas Hill Jr.
Contingent Valuation: Comparing Participant Performance in Group-Based Approaches and Personal Interviews. Nele Lienhoop and Douglas C. MacMillan
Natura economica in Environmental ValuationKatrine Soma
Realms of Value: Conflicting Natural Resource Values and Incommensurability. Sarah Fleisher Trainor
Download full text (PDF format) from IngentaConnect. Access is free if your institution subscribes to Environmental Values.
Subscriptions and back numbers of Environmental Values.Other papers in this volume
THE WHITE HORSE PRESS
The Old Vicarage, Winwick
Cambridgeshire, PE28 5PN, UK
Tel: +44 1832 293222