A guiding framework for ecosystem services monetization in ecological–economic modeling

Mateo Cordier, José Pérez Agúndez, Walter Hecq and Bertrand Hamaide
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José Pérez Agúndez: AMURE - Aménagement des Usages des Ressources et des Espaces marins et littoraux - Centre de droit et d'économie de la mer - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UBO - Université de Brest - IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique - CNRS - Centre National de la Recherche Scientifique
Bertrand Hamaide: Facultés universitaires Saint-Louis - Centre d'études sociologiques

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Abstract: Monetary valuation techniques are often used for evaluating the effect of a change in ecosystem services on components of human wellbeing, even though they face several drawbacks. This paper seeks to reconcile monetary valuation techniques with methods that address ecosystem-economy interactions by developing a guiding framework that limits the use of monetary valuation to various market simulations. Simulations of scenarios of environmental measures are carried out with a semi-dynamic hybrid input-output model. The guiding framework ensures that monetary valuation techniques contribute to the understanding of the impact of economic activities on changes in ecosystems services and the feedback impact of these changes on economic activities. The framework operates according to three criteria: i) the category of ecosystem components (intermediate products, ecosystem services, benefits obtained from the ecosystem), ii) existence of a market, intention to exchange or possibility for restoration or preservation, and iii) direct/indirect monetary valuation techniques. The methodology is then tested with a case-study. (C) 2014 Elsevier B.V. All rights reserved.

Keywords: ecosystem services input-output model dynamic model monetary valuation ecological-economic interactions monetization limits; ecosystem services; input-output model; dynamic model; monetary valuation; ecological-economic interactions; monetization limits (search for similar items in EconPapers)
Date: 2014-06
Note: View the original document on HAL open archive server: https://hal.science/hal-04166568v1
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Published in Ecosystem Services, 2014, 8, pp.86 - 96. ⟨10.1016/j.ecoser.2014.03.003⟩

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Journal Article: A guiding framework for ecosystem services monetization in ecological–economic modeling (2014)
Working Paper: A guiding framework for ecosystem services monetization in ecological–economic modeling (2014)
Working Paper: A guiding framework for ecosystem services monetization in ecological-economic modeling (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04166568

DOI: 10.1016/j.ecoser.2014.03.003

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