New methods for valuing, and for identifying spatial variations, in cultural services: a case study of the Great Barrier Reef

Jarvis, Diane, Stoeckl, Natalie, and Liu, Hong-Bo (2017) New methods for valuing, and for identifying spatial variations, in cultural services: a case study of the Great Barrier Reef. Ecosystem Services, 24. pp. 58-67.

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Abstract

Estimating values for ecosystem services (ES) can contribute to the decision making process, reducing the risk that ES benefits are overlooked. For ES with no (direct or indirect) links to markets, valuation is a non-trivial exercise. Traditional methods require the use of hypothetical markets; the life satisfaction (LS) approach does not. LS has previously been used to estimate the value of regulating ES, but to the best of our knowledge has never been used to estimate the value of cultural services (CS).

We examine the relationship between LS and a subset of CS provided by the Great Barrier Reef (GBR), (the non-use CS), using geographically weighted regression to investigate spatial variations in value. After controlling for other factors, we find income is more important to LS in the south than the north; the opposite is true for non-use CS.

The coefficients are used to estimate the amount of income required to keep overall LS constant, should the non-use CS of the GBR not be preserved, estimated at $8.7 bn annually. We acknowledge the imperfections of our work, noting the need for research on better CS measures, but feel that the general approach may add another useful tool to the valuation toolbox.

Item ID: 47535
Item Type: Article (Research - C1)
ISSN: 2212-0416
Keywords: cultural services; non-market valuation; geographically weighted regression; life satisfaction; spatial analysis of life satisfaction; Great Barrier Reef
Copyright Information: © 2017. This manuscript version is made available under a Creative Commons license CC-by-NC-ND (https://creativecommons.org/licenses/by-nc-nd/4.0/).
Funders: National Environmental Research Program: Tropical Ecosystems Hub
Projects and Grants: Project 10.2 Socioeconomic systems and reef resilience
Date Deposited: 06 Mar 2017 23:26
FoR Codes: 14 ECONOMICS > 1402 Applied Economics > 140205 Environment and Resource Economics @ 50%
14 ECONOMICS > 1499 Other Economics > 149902 Ecological Economics @ 50%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9199 Other Economic Framework > 919999 Economic Framework not elsewhere classified @ 40%
96 ENVIRONMENT > 9605 Ecosystem Assessment and Management > 960507 Ecosystem Assessment and Management of Marine Environments @ 30%
96 ENVIRONMENT > 9606 Environmental and Natural Resource Evaluation > 960699 Environmental and Natural Resource Evaluation not elsewhere classified @ 30%
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