ECON 548 Spring 2011 Lecture 4

ECON 548 Spring 2011 Lecture 4 - ECON/ENVR 548 Spring 2011...

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ECON/ENVR548 Spring 2011 Lecture 4 Jason H Murray
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Ecosystem Services » Definition: ‘‘ the conditions and processes through which natural ecosystems, and the species that make them up, sustain and fulfil human life ’’ - Daily, G.C. 1997. Nature’s Services: Societal Dependence on Natural Ecosystems
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Examples Water filtration, waste treatment/absorption Nursery and habitat for food and medicine species Carbon sequestration Storm protection, flood control Pollination
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Total Economic Value TEV = Use + Non-Use + Option » (Direct) Use Values: food and raw material extraction, recreation, transportation » (Indirect) Use Values: flood/storm protection, filtration, habitat, . .. » Non-Use Values: Existence and Bequest » Option (quasi-option) – may be considered use or non/use TEV is often problematic as no distinction is made between whose values these are.
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Valuation of Ecosystem Services isi search for “ecosystem services valuation” yields 155 hits all since '95 [76 in Ecological Economics ] Global valuation : Costanza et al (1997) Nature $33 trillion/year (global GNP ~ $18 trillion) Very controversial, lots of assumptions, highly criticized for reduced form methods One assumption: mangrove total annual value = $9,900/ha/yr [$466 for food production only] Volume 25, issue 1 of Ecological Economics dedicated to controversy
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Ecol Econ 25(1) Toman: “Why not to calculate the value of the world's ecosystem services and natural capital.” Nature paper is an average calculation not marginal “...little that can usefully be done with a serious underestimate of infinity. ..” “So long as priorities must be set among competing claims for ecosystem protection and/or amelioration, it is necessary to understand how specific changes in different ecosystem states are affecting social interests and values. Norgaard et al: “...now that we know the exchange value of the earth, we wondered with whom we might exchange it and what we might be able to do with the money, sans earth.”
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Why assign $ values on Ecosystems/Biomes/Species/ Biodiversity, etc? Typically no market for benefits
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This note was uploaded on 06/16/2011 for the course ECON 548 taught by Professor Murray during the Spring '11 term at South Carolina.

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ECON 548 Spring 2011 Lecture 4 - ECON/ENVR 548 Spring 2011...

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