On the Economic Value of Ecosystem Services
Environmental Values, 2008, vol. 17, issue 2, pages 239-257
The productive services of nature, such as the ability of fertile soil to grow crops, receive low market prices not because markets fail but because many natural resources, such as good cropland, are abundant relative to effective demand. Even when one pays nothing for a service such as that the wind provides in pollinating crops, this is its 'correct' market price if the supply is adequate and free. The paper argues that ecological services are either too 'lumpy' to price in incremental units (for example, climatic systems), priced competitively, or too cheap to meter. The paper considers counter-examples and objections.
Keywords: Ecosystems; valuation; economics (search for similar items in EconPapers)
JEL-codes: D4 D6 Q2 (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (4) Track citations by RSS feed
Downloads: (external link)
downloads of articles require payment or registration of paid subscription
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:env:journl:ev17:ev1713
Access Statistics for this article
Environmental Values is currently edited by Clive Spash
More articles in Environmental Values from White Horse Press
Series data maintained by Andrew Johnson ().