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Ecosystem Services: Value Is in the Eye of the Beholder
Citation:
Munns, Jr., Wayne R. AND Anne W. Rea. Ecosystem Services: Value Is in the Eye of the Beholder. Integrated Environmental Assessment and Management. Allen Press, Inc., Lawrence, KS, 11(2):332-333, (2015).
Impact/Purpose:
This position piece provides the background and lays the groundwork for quantitative valuation of changes in ecosystem services from a neoclassical environmental economics perspective. It describes the importance of quantification (ideally monetization) to environmental decision making tradeoff analyses (e.g., benefit-cost analysis) that inform decisions. It is one of three such papers that argue different perspectives about the roles of valuation in environmental decision making. The manuscript is intended to enlighten natural scientists about valuation, and to encourage them to utilize measurement endpoints that can be used effectively by environmental economists to quantify the ecological benefits of regulatory and policy decisions.
Description:
N/A - Not Applicable
