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A Simple Lesson in Economic Valuation: Do Scientists Value Expanding the Nutrient Network?

Stephen Swallow (), Pengfei Liu (), Eric Seabloom () and Elizabeth Borer ()
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Eric Seabloom: University of Minnesota
Elizabeth Borer: University of Minnesota

No 26, Working Papers from University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy

Abstract: This paper reports on a small-scale experiment in which a broad group of ecological scientists were challenged to consider their own values within an economic framework, by considering whether to contribute financially (i.e., to donate) to support a global research initiative designed to investigate the implications of global change for grassland ecosystems. In this paper, we explore the concepts and foundations for economic valuation and use this small-scale experiment to illustrate some of the basic approaches of economics as they might apply to choices about ecosystem services, particularly using an application to the potential to enhance scientific knowledge.

Pages: 27 pages
Date: 2013-12
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