EconPapers    
Economics at your fingertips  
 

The means determine the end – Pursuing integrated valuation in practice

Sander Jacobs, Martín-López, Berta, David N. Barton, Robert Dunford, Paula A. Harrison, Eszter Kelemen, Heli Saarikoski, Mette Termansen, García-Llorente, Marina, Gómez-Baggethun, Erik, Leena Kopperoinen, Sandra Luque, Ignacio Palomo, Joerg A. Priess, Graciela M. Rusch, Patrizia Tenerelli, Francis Turkelboom, Rolinde Demeyer, Jennifer Hauck, Hans Keune and Ron Smith

Ecosystem Services, 2018, vol. 29, issue PC, 515-528

Abstract: In environmental valuation, although it is well recognised that the choice of method heavily affects the outcome, little is known on how existing valuation methods actually elicit the different values. Through the assessment of real-life applications of valuation of nature, this study tracks down the suitability of 21 valuation methods for 11 value types and assesses the methodological requirements for their operationalization. We found that different valuation methods have different suitabilities to elicit diverse value-types. Some methods are more specialized than others, but every method has blind spots, which implies risks of biased decision-making. We summarized different value-types according to three value dimensions: non-anthropocentric, relational and instrumental. No single valuation method is able to capture this full spectrum of values of nature. Covering all value dimensions requires careful selection of complementary valuation methods. This study also demonstrates that performing such an integrated valuation does not necessarily entail more resources, as for every value dimension, methods with low to medium operational requirements are available. With this study, we aim to provide guidance for selecting a complementary set of valuation methods in order to develop integrated valuation in practice that includes values of all stakeholders into environmental decision-making.

Keywords: Values of nature; Integrated valuation; Operational requirements; Ecosystem services; Valuation methods (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S2212041617300219
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoser:v:29:y:2018:i:pc:p:515-528

Access Statistics for this article

Ecosystem Services is currently edited by Leon C Braat

More articles in Ecosystem Services from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-10-05
Handle: RePEc:eee:ecoser:v:29:y:2018:i:pc:p:515-528