More than total economic value: How to combine economic valuation of biodiversity with ecological resilience

More than total economic value: How to combine economic valuation of biodiversity with ecological resilience

a r t i c l e i n f o Keywords: Total economic value Biodiversity Ecosystem services Ecosystem functioning Functional diversity Ecosystem resilience Insurance value Portfolio theory The assessment of total economic value has become a pragmatic and popular approach in nature valuation, yet criticisms have been raised. One major point of critique is that total economic value bases the monetary va...

Ecological–Economic Analysis and Valuation of Biodiversity

1. Introduction: context and scope of the study In the spirit of the growing environmental awareness in the past decades, we witness nowadays an increasing interest in biodiversity, both locally and worldwide. Biodiversity requires our attention for two reasons. First, it provides a wide range of benefits to mankind and human activities. Second, many human activities have contributed to unprece...

Marine Biodiversity: An Economic Valuation

A goods and services approach has been applied to determine the economic value of marine biodiversity in the UK. This paper presents the goods and services resulting from marine biodiversity in UK waters, detailing the habitats and species which provide them, and the likely impact of a decrease in biodiversity. Where possible a monetary value was assigned to each of the goods and services. Valu...

Economic valuation of ecosystem services fails to capture biodiversity value of tropical forests

The economic insurance value of ecosystem resilience

Ecosystem resilience, i.e. an ecosystem’s ability to maintain its basic functions and controls under disturbances, is often interpreted as insurance: by decreasing the probability of future drops in the provision of ecosystem services, resilience insures risk-averse ecosystem users against potential welfare losses. Using a general and stringent definition of ‘insurance’ and a simple ecological-...