Cold water coral ecosystems and their biodiversity: a review of their economic and social value

Naomi S. Foley and Thomas van Rensburg
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Thomas van Rensburg: Department of Economics, National University of Ireland, Galway

No 131, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: Despite the growing scientific literature on cold-water corals (CWC) there appears to be no research of an economic nature applied to the resource. This paper presents an overview of the goods and services of CWC and their associated biodiversity. Use and non-use values associated with CWC are presented, and the methods relevant for assessing their valuation are discussed. The impact of human induced disturbance on CWC is reviewed, in order to indicate how knowledge of CWC values can be used by policy makers in the management of CWC as a habitat and vehicle for biodiversity.

Keywords: cold-water coral; goods and services; total economic value (TEV); resilience; biodiversity (search for similar items in EconPapers)
Date: 2008, Revised 2008
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