EconPapers    
Economics at your fingertips  
 

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

Mateo Cordier, José Pérez Agúndez, Walter Hecq and Bertrand Hamaide

No 13-018, Working Papers CEB from ULB -- Universite Libre de Bruxelles

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 problems such as poor scientific knowledge on ecological-economic interactions, difficulty for monetary valuation techniques to consider the effect of intermediate ecosystem services on final ones, cognitive limitations of individuals, right-based responses made by individuals instead of consequentialism-based ones,… Considering those limits, this paper proposes an alternative approach for reconciling monetary valuation techniques with methods that address ecosystem-economy interactions. To achieve this goal, we develop a guiding framework that limits the use of monetary valuation to real market simulations. Simulations of scenarios of environmental measures are carried out with a hybrid ecological-economic 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 a double dichotomy: intermediate/final ecosystem services and direct/indirect monetary valuation techniques. One advantage of our guiding framework is to consider the importance of intermediate ecosystem services even if they cannot be monetized. This seems very relevant since intermediate services condition the existence of all other ecosystem services that ensure benefits to human life and economic activities. Our guiding framework may give natural scientists a better understanding of how to take advantage of economics in analyzing the impacts of interactions between the economy and the ecosystem.

Keywords: ecosystem services; input-output model; monetary valuation; ecological-economic interactions; limits of monetary values (search for similar items in EconPapers)
Pages: 23 p.
Date: 2013-04-22
New Economics Papers: this item is included in nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed

Published by:

Downloads: (external link)
https://dipot.ulb.ac.be/dspace/bitstream/2013/143345/3/wp13018.pdf wp13018 (application/pdf)

Related works:
Working Paper: A guiding framework for ecosystem services monetization in ecological–economic modeling (2014) Downloads
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:sol:wpaper:2013/143345

Ordering information: This working paper can be ordered from
http://hdl.handle.ne ... lb.ac.be:2013/143345

Access Statistics for this paper

More papers in Working Papers CEB from ULB -- Universite Libre de Bruxelles Contact information at EDIRC.
Bibliographic data for series maintained by Benoit Pauwels ().

 
Page updated 2021-11-23
Handle: RePEc:sol:wpaper:2013/143345