Valuing ecosystem goods and services: a new approach using a surrogate market and the combination of a multiple criteria analysis and a Delphi panel to assign weights to the attributes

Curtis, Ian A. (2004) Valuing ecosystem goods and services: a new approach using a surrogate market and the combination of a multiple criteria analysis and a Delphi panel to assign weights to the attributes. Ecological Economics, 50 (3-4). pp. 163-194.

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Abstract

A new approach to valuing ecosystem goods and services (EGS) is described which incorporates components of the economic theory of value, the theory of valuation (USnot, vert, similarappraisal), a multi-model multiple criteria analysis (MCA) of ecosystem attributes, and a Delphi panel of experts to assign weights to the attributes. The total value of ecosystem goods and services in the various tenure categories in the Wet Tropics World Heritage Area (WTWHA) in Australia was found to be in the range AUD$188 to $211 million year−1, or AUD$210 to 236 ha−1 year−1 across tenures, as at 30 June 2002. Application of the weightings assigned by the Delphi panelists and assessment of the ecological integrity of the various tenure categories resulted in values being derived for individual ecosystem services in the World Heritage Area. Biodiversity and refugia were the two attributes ranked most highly at AUD$18.6 to $20.9 million year−1 and AUD$16.6 to $18.2 million year−1, respectively.

Item ID: 13870
Item Type: Article (Refereed Research - C1)
Keywords: Delphi; economics; ecosystem services; multiple criteria analysis; shadow prices; surrogate market; valuing
ISSN: 1873-6106
Date Deposited: 17 Nov 2010 01:30
FoR Codes: 05 ENVIRONMENTAL SCIENCES > 0599 Other Environmental Sciences > 059999 Environmental Sciences not elsewhere classified @ 50%
14 ECONOMICS > 1402 Applied Economics > 140205 Environment and Resource Economics @ 50%
SEO Codes: 96 ENVIRONMENT > 9606 Environmental and Natural Resource Evaluation > 960699 Environmental and Natural Resource Evaluation not elsewhere classified @ 51%
96 ENVIRONMENT > 9606 Environmental and Natural Resource Evaluation > 960601 Economic Incentives for Environmental Protection @ 49%
Citation Count from Web of Science Web of Science 34
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