Public Value of Nature: Economics of Urban Trees, Parks and Open Space

Urban parks, forests and open space systems provide many amenities for city dwellers. Yet perceptions of public value may not incorporate all of the scientifically confirmed public goods and services of urban green space. Theory and methods of economic valuation have been used to derive green space values – including direct use, environmental services, hedonic pricing and human health estimations. Green space administrators can use valuation data in strategic political management efforts on behalf of green space, to assure that adequate resources are allocated for planning and management of urban nature systems.