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In this paper, we demonstrate value generalisation from a sample of ecosystem assets – municipally managed trees - to all tree assets within an urban ecosystem accounting area. A Bayesian network model is used to machine-learn non-parametric correlation patterns between biophysical site condition variables and output variables of an ecosystem service model – here iTree Eco for modelling the regulating services of urban forests. The paper also demonstrates the use of spatial Bayesian network modelling to quantify the reliability of value generalisation for accounting purposes. Value generalisation entails inferring ecosystem service values for all locations in an ecosystem accounting area, where the accounting practitioner has less information about the asset and its context, than in an available sample of managed sites within the accounting area. The modelling is carried out as a “proof-of-principle” of potential value generalisation and uncertainty analysis methods for ecosystem accounting. It does not cover all regulating ecosystem services of urban forests, nor cultural services. While noting that wide confidence intervals for generalised values pose challenges for using monetary accounts for the accounting purpose of change detection, we find that tree-specific asset valuation is possible in an urban accounting setting. Our findings serve the purpose of raising awareness about asset values of urban green infrastructure, to bring them more on a par with grey infrastructure in urban planning. We also argue that the reliability of the asset value of individual trees is also good enough to be used for non-accounting purposes, such as municipal tree damage assessments.

After years of experimentation, documents, meetings, consultations and negotiations, the SEEA EA reignited the debate on the monetary quantification of the value of nature. Now more than ever, there is a need for an original approach, able to align the SEEA EA to the principles of national accounting, to the relevant economic theory and to 'strong sustainability'. In this article, we outline a technically sound alternative to the currently dominant approach, namely "valuation" of ecosystem services (ESs). The basic idea is to recognize the specific meaning and usefulness of each of the numerous monetary estimates proposed for valuation, starting with those included in the SEEA EA, without forcing national accounting principles: we promote the transition from the narrow concept of "monetary value of ecosystem service" to the wider one of “monetary values connected to/ dependent on ESs”. Nothing new in terms of evaluation techniques; only a simple, but rich in implications, innovation in terms of interpretation and conceptualization of the values generated by existing monetary values estimation methods.

The paper presents the findings of an evaluation of the total economic value (TEV) of marine ecosystems of a planned marine reserve in “Le Prêcheur”, North of Martinique, Caribbean. Almost 95% of the TEV, estimated at EUR 58 million annually, derives from non-use values, while about 5% are from Direct use values with a predominance of leisure values, and less than 1% percent comes from the Indirect use values despite the high biodiversity interest of the location. In that regards, estimates made in the context of this study are to be considered as orders of magnitude intended to feed the strategic dialogue for the development of the future marine reserve on one hand, and budgetary decisions of public policy guidelines on the other. It is therefore essential to adopt a collaborative approach between all actors involved on the coast. Moreover, public policies must take into account the protection of marine ecosystems and even more of their enhancement in a perspective that combines economic utilitarianism and selflessness. The marine ecosystems of Le Prêcheur have indeed emerged as elements of the identity of the coastal population of Le Prêcheur but also of Martinique as a whole and, as such, must be highlighted.

Energy generation has had several negative health impacts over the last few decades, mainly due to air pollution. One of the ways to decrease such impacts is to increase energy generation through renewable energy sources (RESs). These sources have important health co-benefits that need to be taken into consideration. This topic has been included in the literature, but research is scattered. The goal of this article is to show the status of the literature on this topic. We performed a systematic literature review on the health co-benefits of RES use, depicting the state of the art of this literature, some common findings, limitations, and lines for future research. It is clear from our analysis that this literature remains scarce. We found 28 studies fitting the inclusion criteria. Results can be summed as follows: (1) wind and solar power are the most studied RES sources; (2) most studies are for the United States and developing countries are largely understudied; and (3) health benefit results vary widely according to site-specific conditions. Overall, the existing studies show significant health co-benefits from RES use, which are important to consider when performing cost–benefit analysis for energy projects. This is particularly relevant for policy-makers and energy investors.

Carbon sequestration plays an essential role in climate regulation, and its monetary value is critical for decision-making. To encourage carbon sequestration and avoid expensing the ecosystem services for future generations, a dynamic monetary valuation perspective was developed by integrating a carbon dynamics model of ecosystems and an atmospheric carbon cycle model. A case study of biomass utilization in Northern Shaanxi was conducted to illustrative the performance of this approach by comparing with the conventional approach. The carbon dynamics in the available lands were simulated by the CENTURY model under the RCP4.5 climate change scenario. The results suggested that the carbon storage was doubled without biomass utilization in the projected 25 years. When biomass was harvested, carbon storage decreased slightly. The monetary value without biomass harvesting in the dynamic approach was higher than that in the conventional approach. After analogizing the monetary values of carbon sequestration and biomass utilization, there was a lower likelihood of biomass harvesting in the dynamic approach than in the conventional approach.

This study estimates the monetary value of sports and physical activity applying the compensation variation method. While previous studies put a price tag on various health conditions, this study assigns a monetary value to healthy behavior, such as participation in sports and physical activity. Data from the German Socio-Economic Panel (1992–2013) are used for the analysis (n = 191,828). A generalized ordered response model is estimated to take the heterogeneity in the dependent variable, a single-item life satisfaction measure, into account. The results show that females (males) would be willing to forgo between €195 and €840 (€330 and €790) of their monthly net income in order to participate in sports and physical activity several times a year. A higher frequency of participation is associated with higher monetary values: females (males) are willing to forgo between €552 and €1281 (€491 and €1483) of their monthly net income to participate in sports or exercise at least once a month and between €577 and €1471 (€577 and €1662) to participate at least once a week, respectively, compared to not participating at all. Evidently, participation in sports and physical activity improves individuals’ life satisfaction and is of substantial value to individuals. The findings have implications for health economists, policy makers, and the courts. This study contributes to the literature examining the relationship between sports participation and well-being.

The present paper proposes a micro-econometric methodology for the economic valuation of the impact of ecosystem services in selected economic sectors. In the context of natural capital and ecosystem accounting, we built a four steps valuation protocol. The methodology is applied to the valuation of freshwater in the Ankeniheny-Zahamena Forestry Corridor (CAZ), Madagascar – a country partner with the Wealth Accounting and the Valuation of Ecosystem Services (WAVES). Our results corroborate the intuition that understanding the value of water in its alternative uses is a key to fostering informed debate on water management and allocation in the CAZ area. More generally, this study provides a solid contribution towards a more effective way to elicit and record nature's ecosystem services contribution to the economy.

Aquest treball descriu una visió completa i actualitzada de les externalitats dels aeroports i analitza la seva correcció i quantificació tal i com s'aplica en la Unió Europea. En primer lloc, les externalitats del soroll i les emissions s'identifiquen i expliquen a través de les seves fonts i efectes negatius, després els mètodes de quantificació i mesures de correcció. Finalment, la correspondència entre valuació monetària i política de correcció s'explora per mitjà d'un case study sobre el soroll a l'Aeroport d'Amsterdam-Schiphol. Este trabajo describe una visión completa y actualizada de las externalidades de los aeropuertos y analiza su corrección y cuantificación tal y como se aplican en la Unión Europea. En primer lugar, las externalidades del ruido y las emisiones se identifican y se explican a través de sus fuentes y efectos negativos, después los métodos de cuantificación y medidas de corrección. Finalmente, la correspondencia entre valuación monetaria y política de corrección se explora mediante un case study sobre el ruido en el Aeropuerto de Amsterdam-Schiphol. This thesis describes a comprehensive and up to date vision of airport externality and analyses quantification and correction as applied in the European Union. First of all, the externalities of noise and emissions are identified and explained through their sources and negative effects, then quantification methods and correction measures. Finally, the correspondence between monetary valuation and correction policy is explored through a case study on noise in Amsterdam Airport Schiphol.

Flood protection is considered one of the crucial regulating ecosystem services due to climate change and extreme weather events. As an ecosystem service, it combines the results of hydrological and ecosystem research and their implementation into land management and/or planning processes including several formally separated economic sectors. As managerial and economic interests often diverge, successful decision-making requires a common denominator in form of monetary valuation of competing trade-offs. In this paper, a methodical approach based on the monetary value of the ecosystem service provided by the ecosystem corresponding to its actual share in flood regulating processes and the value of the property protected by this service was developed and demonstrated based on an example of a medium size mountain basin (290 ha). Hydrological modelling methods (SWAT, HEC-RAS) were applied for assessing the extent of floods with different rainfalls and land uses. The rainfall threshold value that would cause flooding with the current land use but that would be safely drained if the basin was covered completely by forest was estimated. The cost of the flood protection ecosystem service was assessed by the method of non-market monetary value for estimating avoided damage costs of endangered infrastructure and calculated both for the current and hypothetical land use. The results identify areas that are crucial for water retention and that deserve greater attention in management. In addition, the monetary valuation of flood protection provided by the current but also by hypothetical land uses enables competent and well-formulated decision-making processes.

Balancing the ecosystem service (ES) mismatch should be a goal of sustainable urban planning. However, (i) many urban areas lack an assessment of this mismatch and (ii) scientific findings are not easily translatable into good practices. In this study, we assessed the mismatch for two regulating ESs—regulation of air quality (intended as PM10 removal by vegetation) and urban temperature regulation—in the Municipality of Rome (Italy). The spatial distribution of the ES mismatch was then used to identify priority intervention areas (PIAs), namely those that would benefit the most from targeted urban planning. To do so, we computed composite indicators of supply and demand for each ES, adopting a process-based approach. Additionally, a monetary valuation of the related benefits associated with urban green infrastructure is provided. Our findings suggest that regulation of air quality falls short in highly urbanized areas, whereas a mismatch in urban temperature regulation is observed in both highly urbanized areas and some agricultural lands. The majority of the PIAs fall in the eastern and southern sectors of the Municipality of Rome. Our findings also indicate that urban planning should consider urban regeneration practices and reforestation of existing green areas within the PIAs. Sustainable urban planning can produce remarkable environmental benefits, as estimated, for the Municipality of Rome, up to several hundred million euros per year, depending on the methodology used for the monetary valuation.

Highlights • We present a novel method to account for flood control as ecosystem service. • Flood control includes different components: potential, demand and actual flow. • We provide an experimental account in line with up-to-date integrated accounting systems. • The estimated value of flood control at the EU level is about 16 billion euro. • Artificial areas not protected by ecosystems increased between 2006 and 2012., Ecosystem service accounts require quantifying the contribution of ecosystems to the society. However, estimation of the ecosystem service used (actual flow) remains still very challenging for regulating services. We developed an experimental ecosystem service account for flood control delivered by ecosystems including: 1) Biophysical modelling of ecosystem service potential, demand and actual flow. 2) Translation of the actual flow in monetary terms. 3) Compilation of accounting tables. Ultimately, we analysed changes in flood control between 2006 and 2012. The value of flood control delivered by ecosystems in 2012 is estimated at about 16 billion euro. This value increased by 1.14% between 2006 and 2012. This increase is mainly due to the sprawl of artificial areas into floodplains that benefit from flood control delivered by ecosystems. However, the role of natural capital to control floods is slightly decreasing. This is confirmed by the increase of artificial areas not protected by ecosystems (+1.9%, unmet demand). The role of natural capital to control floods could be enhanced by restoring ecosystems upstream from this unmet demand and increase the ecosystems contribution to human well-being. The methodology makes a significant contribution to the assessment of ecosystem services flow and the accounting framework.

The presence of pharmaceutical and personal care products and drugs of abuse (PPCPs) in wastewater treatment plants (WWTPs) indicates discharge of the effluent may not be suitable for the ecological balance of water ecosystems, such as wetlands. These PPCPs degrade water quality, considered as an ecosystem service (ES), provoking serious environmental impacts. Assessing the monetary value of PPCPs can be used as a proxy for environmental status of the ES of water quality (ESWQ). Considering PPCPs as non-desirable outputs of WWTPs, the shadow prices methodology has been implemented using directional distance function to measure the environmental avoided cost of removing salicylic acid (SA), methylparaben (MP), and THCOOH from WWTPs effluents discharged to Albufera Natural Park (Spain). The SA shows the highest shadow price (138.16 €/μg), followed by THCOOH (48.15 €/μg), and MP (30.66 €/μg). These values are interpreted as the environmental cost that would be avoided if SA, MP, and THCOOH were removed from WWTPs effluents. The non-parametric tests show that wastewater treatment technology, together with population equivalent (as a proxy of the size of urban areas) and seasonality are factors that influence shadow prices obtained. The approach used in this study highlights the use of PPCPs as status indicators of ESWQ quantified in monetary units. As a way to synthesize the essential concepts to implement the shadow prices approach, this study proposes a flow diagram to represent the relationship between all the factors involved in this work. The use of shadow prices methodology proves that removing SA, MP, and THCOOH is associated with a measurable improvement in the ESWQ of Albufera Natural Park. The findings of this study will be useful for plant managers in order to make decisions about the removal of PPCPs in WWTPs effluents., This work has been supported by the Spanish Ministry of Economy and Competitiveness and the ERDF (European Regional Development Fund) through the project Eco2TOOLS (No. CGL2015-64454-C2-1-R, subproject Eco2RISK-DDS)

Conventional wastewater treatment plants (WWTPs) are designed to remove mainly the organic matter, nitrogen and phosphorus compounds and suspended solids from wastewater but are not capable of removing chemicals of human origin, such as pharmaceutical and personal care products (PPCPs). The presence of PPCPs in wastewater has environmental effects on the water bodies receiving the WWTP effluents and renders the effluent as unsuitable as a nonconventional water source. Considering PPCPs as non-desirable outputs, the shadow prices methodology has been implemented using the output distance function to measure the environmental benefits of removing five PPCPs (acetaminophen, ibuprofen, naproxen, carbamazepine and trimethoprim) from WWTP effluents discharged to three different ecosystems (wetland, river and sea). Acetaminophen and ibuprofen show the highest shadow prices of the sample for wetland areas. Their values are 128.2 and 11.0 €/mg respectively. These results represent a proxy in monetary terms of the environmental benefit achieved from avoiding the discharge of these PPCPs in wetlands. These results suggest which PPCPs are urgent to remove from wastewater and which ecosystems are most vulnerable to their presence. The findings of this study will be useful for the plant managers in order to make decisions about prioritization in the removal of different pollutants. This work has been supported by the Spanish Ministry of Economy and Competitiveness and the ERDF (European Regional Development Fund) through the project ECO2TOOLS (No. CGL2015-64454-C2-1-R, subproject Eco2RISK-DDS).

International audience; Identified since the 19th Century, the concept of heritage is constantly expanding. Everything is now likely to become patrimonial, even the environment. However, at the same time, this heritage is now integrated into the sphere of commercial exchange whereas it was initially recognized for its symbolic qualities. This new register of justification has been studied in the case of territorial development. However, to the best of our knowledge, little work has concerned the social and political implications of the economic valuation of the natural heritage. This paper proposes the shared perspectives of a geographer and an economist. Based on a literature review and various case studies, it aims at discussing the social uses of economic valuation. It also questions how this tool takes part in the creation of the economic values of the natural heritage. We analyse how the monetary valuation, although highly criticized, gradually became a normative framework for designing public policies and an additional resource of authority in patrimonial expansion. But the transformation in public decision making encourages taking a better look at the way this tool is now mobilized in order to enforce, negotiate or co-build new values.; Identifié et circonscrit depuis le XIXe siècle aux monuments historiques et aux curiosités naturelles remarquables, le patrimoine n’a cessé de s’étendre jusqu’à enserrer aujourd’hui des paysages et des écosystèmes. Mais parallèlement, un autre changement majeur s’opère, à savoir l’intégration du patrimoine, d’abord reconnu pour ses vertus symboliques, à la sphère des échanges marchands. Or, si ce registre de justification de la conservation patrimoniale a pu être étudié dans le cadre du développement territorial, peu de travaux ont à ce jour porté sur les implications sociales et politiques d’une économisation du patrimoine naturel. En procédant à une revue de la littérature et en s’inspirant de diverses études de cas, l’objectif de ce regard croisé entre un géographe et une économiste est de proposer une réflexion sur les usages sociaux de cette monétarisation de l’environnement et sa participation à la « petite fabrique » du patrimoine naturel. Nous verrons ainsi comment l’évaluation économique, bien que vivement critiquée, est progressivement devenue un cadre normatif des politiques publiques et un opérateur stratégique des processus de patrimonialisation. Loin de rester circonscrit aux seuls pouvoirs publics, cet outil est désormais instrumentalisé, par une diversité d’acteurs, pour imposer, négocier ou co-construire des valeurs.

RESUMEN: El proyecto de ampliación de la capacidad aérea de la ciudad de Londres ha ocasionado muchas opiniones a favor y muchas en contra. Los motivos que apoya la construcción de una nueva pista en la zona son los beneficios económicos y las mejoras de las comunicaciones que se producirán. Por otro lado, el principal argumento para oponerse a este desarrollo se basa en los elevados niveles de ruido a los que estarán expuestas todas aquellas personas que viven bajo el área de influencia del aeropuerto. Por todo esto, uno de los principales motivos de este Trabajo Fin de Máster es indagar, en términos de viabilidad socio-económica, en una de las construcciones más polémicas que se llevaran a cabo en el Reino Unido en los últimos años. De esta forma, se establece que el principal propósito de este trabajo trata de responder a la pregunta de si la ampliación de la capacidad aérea de la ciudad de Londres es viable en términos socio-económicos. Para la realización de este estudio se llevará a cabo el análisis de dos alternativas: expansión de la capacidad aérea del aeropuerto de Heathrow y expansión de la capacidad aérea del aeropuerto de Gatwick. Desde el punto de vista de la viabilidad, es pertinente evaluar los proyectos e intervenciones porque los recursos humanos y materiales son escasos, y cuando decidimos su asignación o empleo para una determinada actividad debemos hacerlo de acuerdo a criterios de utilidad y eficiencia. Para evaluar la eficiencia de un proyecto o intervención, el método estándar ha sido el Análisis Coste-Beneficio (ACB). Se trata por lo tanto de un procedimiento para evaluar el valor económico y social de programas, políticas y proyectos de inversión. La metodología del ACB proporciona apoyo en la valoración y toma de decisiones. De esta forma el concepto básico del ACB consiste en comparar todos los costes y beneficios asociados a un proyecto. Finalmente se emplea alguna regla de decisión para determinar la eficiencia del proyecto. Es por lo tanto que el método del Análisis Coste-Beneficio sirve para responder al principal objetivo de este Trabajo Fin de Máster. A la principal finalidad de responder a la pregunta de si las distintas alternativas en cuanto a la expansión aérea de la ciudad de Londres son viables en términos socio-económicos es sí. En primer lugar, el estudio de los dos escenarios planteados, ampliación del aeropuerto de Heathrow y ampliación del aeropuerto de Gatwick, revela un resultado positivo del indicador de rentabilidad (VAN). Con el valor del VAN obtenido se debe llevar a cabo la interpretación, y en este caso el VAN positivo indica que la inversión produce ganancias por encima de la rentabilidad exigida. Por lo tanto, el proyecto de ampliación de la capacidad aérea de la ciudad de Londres crea valor. Por otro lado, el análisis de sensibilidad indica que los parámetros de nuestro modelo en ambas alternativas son críticos. De entre todas las variables citicas, es evidente que sea “Impactos económicos” la más relevante, involucrando en esta variable tanto las exportaciones como las importaciones que se realizan en la ciudad, no hay que olvidar que Londres es la gran ciudad financiera de Europa, donde se realizan un gran porcentaje de las operaciones financieras y bursátiles y donde todas las grandes empresas tienen una sede. Además, tienen vital importancia ya que son el mejor indicador del funcionamiento del servicio siendo como se explicó al inicio de este estudio, el crecimiento económico, tras la ampliación de la capacidad aérea de la ciudad, uno de los objetivos principales de llevar a cabo esta inversión. Otras variables que tienen bastante afección sobre el indicador de rentabilidad, sin llegar a ser críticas, son la inversión inicial y la tasa de descuento a aplicar en los años futuros. Otro de los objetivos era realizar un análisis probabilístico, así, se permite tener en cuenta para el análisis un elevado número de escenarios aleatorios. De esta forma, se ha podido realizar un análisis que se ajuste en mayor medida a la variabilidad real de las variables consideradas. En nuestro caso, la simulación se ha llevado a cabo generando 1000 casos aleatorios. Con la interpretación de los resultados se puede observar que en las 1000 simulaciones realizadas se obtiene un VAN medio de 129.758,3 millones de libras esterlinas y de 66.886,5 millones de libras esterlinas para las alternativas de Heathrow y de Gatwick respectivamente, por lo que a todas luces parece que será muy rentable llevar a cabo el proyecto de inversión siendo estos dos valores positivos. Durante la realización del trabajo se han cumplido los objetivos de estudiar la metodología del Análisis Coste-Beneficio y de proyecto de expansión de la capacidad aérea de la ciudad de Londres mediante el estudio de las alternativas de ampliación del aeropuerto de Heathrow y de ampliación aeropuerto de Gatwick. ABSTRACT: The Project of expansion of London airport capacity has driven to lot of opinions in favour and against. The main reason that support the construction of the new runway in the London airports are the economic benefits and the improvement in the transport communication system. In the other hand, the main reason against this new development is the high levels of noise that will affect the population around the airport. It is for these reasons, that one of the main objectives of this Master’s Thesis is to investigate, in terms of socio-economic viability, in one of the most controversial developments in the United Kingdom in the recent years. In this way, it is established that the main purpose of this Master’s Thesis is to answer the question of the expansion of the airport capacity in London is a viable option in socio-economics terms. In this study, two different cases will be analyse: expansion of Heathrow airport capacity and expansion of Gatwick airport capacity. From the point of view of the viability, it is appropriate to evaluate the projects and interventions because human and material resources are scarce, and when we decided assignment or employment for a certain activity should do so according to criteria of usefulness and efficiency. To evaluate the efficiency of a project or intervention, the standard method has been the Cost-Benefit Analysis (CBA). It is therefore a procedure for assessing the economic value of programs, politics and investment projects. The CBA methodology supports the valuation and the decision-making procedure. In this way, the basic concept of the CBA consists in comparing the costs and benefits related to a project. Finally, a decision procedure will be used to determine the efficiency of the project. It is therefore the method of Cost-Benefit Analysis helps answer the main objective of this Master’s Thesis. The primary purpose of answering the question if the different cases of expansion of London airport capacity are viable in socio-economic terms yes can be said. First, the study of the two scenarios presented, reveals a positive performance indicator (ENPV). With the ENPV value obtained we must bring the interpretation, and in this case the positive ENPV indicates that the investment produces profits above the required rate of return. Therefore, the project of expansion of London airport capacity creates value. On the other hand, the sensitivity analysis indicates that all the variables of the model for the both alternatives are critical. Among these critical variables, it is evident that “Economic impacts” is the most relevant, involving in this variable all the imports and exports that take place in the city of London, it should not be forgotten that London is the Europe financial city, where a great percentage of the business and financial operations takes place and where all big companies have their headquarter. Furthermore, this variable is really important as fur as it is the main indicator of how the service works. As indicated at the beginning of this document, the economic benefits are the main objective to carry out this investigation. Other variables that have enough affection on the performance indicator, without being critical, are the initial investment cost and the discount rate to be applied in future years. Another objective was to perform a probabilistic risk analysis, thus, it was allowed to take into account in the analysis a large number of random scenarios. In this way, it was possible to perform an analysis that conforms more to the real variability of the variables considered. In our case, it has been decided to carry out a simulation of 1000 random cases. With the interpretation of the results it can be seen in the 1000 simulations the value of ENPV is positive, the value of the average ENPV is 129.758,3 millions of pounds in Heathrow’s alternative and 66.886,5 millions of pounds in Gatwick’s alternative. So clearly seems to have been very interesting to carry out the project investment as the two main values to consider are positive. In addition, during the performance of the work, the aims of studying the methodology of Cost-Benefit Analysis and the viability of the two alternatives of expansion of London’s airport capacity have been met. Máster en Ingeniería de Caminos, Canales y Puertos

Biodiversity has received much attention in environmental research and public policy in recent years. There is a world-wide interest in its relevance for the carrying capacity of rich but fragile ecosystems. Voices suggesting building up proper protection mechanisms for unique and scarce diversity become louder. The question emerges whether – and which combination of – ecological and economic insights can help us to identify meaningful policy options to map out proper roads towards a sustainable future. This paper surveys and highlights the potential and limitations of an ecological-economics perspective on biodiversity. Such a perspective on complex biodiversity issues, if firmly supported by modern ecological insights, can help to clarify the processes, functions and values associated with biodiversity. This study aims to offer a historical review of key ecological and economic concepts that are essential in building bridges between ecology and economics, and discusses ways to integrate them. In addition to such issues as biodiversity indices or ecosystem management principles, particular attention is given to various monetary valuation approaches and methods from the perspective of preservation and sustainable use of biodiversity. Furthermore, the use of ecological and value indicators in integrated economic-ecological modelling and analysis is addressed as well. Throughout the paper, several illustrative applications are presented to demonstrate the usefulness of the various approaches discussed. Finally, the paper offers principles for public decision-making regarding biodiversity protection.

Nature conservation scientists and practitioners have voiced the concern that a conservation discourse based on economic arguments and monetary valuation may undermine conservation efforts by eroding ("crowding out") the influence of other arguments for nature conservation. This paper presents the results of a decision experiment in which nature conservation is framed using an economic, a non-economic, or a combined discourse before participants take hypothetical decisions on the construction of hydropower dams in the Bolivian Amazon. We find that an economic discourse with monetary valuation framing leads to significantly fewer pro-conservation decisions, that is, decisions against dam construction. This is the case when a cost-benefit analysis inclusive of environmental costs reveals that the dam is economically viable (i.e., there remains a trade-off between economics and conservation), but also when such a costs-benefit analysis indicates that the dam is not viable (i.e., no trade-off). The results suggest that an economic discourse with monetary valuation framing can indeed undermine nature conservation efforts. They also suggest that the effect can be avoided, however, by presenting non-economic arguments side by side with an economic rationale.

Objectives: Our main objective was to compare willingness to accept (WTA) and willingness to pay (WTP) in a discrete choice experiment on hearing aid provision. Additionally, income effect and endowment effect were explored as possible explanations for the disparity between WTA and WTP, and the impact of using a WTA and/or WTP format to elicit monetary valuations on the net benefit of the new organization of hearing aid provision was examined. Methods: Choice sets were based on five attributes: performer of the initial assessment; accuracy of the initial assessment; duration of the pathway; follow-up at the ear, nose, and throat specialist; and costs. Persons with hearing complaints randomly received a WTP (costs defined as extra payment) or WTA (costs defined as discount) version of the experiment. In the versions, except for the cost attribute, all choice sets were equal. Results: The cost coefficient was statistically significantly higher in the WTP format. Marginal WTA was statistically significantly higher than marginal WTP for the attributes accuracy and follow-up. Disparity was higher in the high educational (as proxy for income) group. We did not find proof of an experience endowment effect. Implementing the new intervention would only be recommended when using WTP. Conclusions: WTA exceeds WTP, also in a discrete choice experiment. As this affects monetary valuations, more research on when to use a payment or a discount in the cost attribute is needed before discrete choice results can be used in cost-benefit analyses.

Harmful algal bIoom species are the cause of important damages to marine living resources and human beings. These marine species are primarily introduced in North-European waters through ballast water, i.e. water trans-ported across the oceans so as to keep a vessel in balance. Port authorities can impose standards on ballast water treatment, which are associated with costs. This, in turn, leads to the question which benefits are associated with the commitment of such standards. Monetary valu-ation can provide information on this. This article reports a monetary valuation study of a marine protection pro-gram. The program focuses on the prevention of harmful algal bIoom species along the coastline of the Nether-lands. It entails the construction of a ballast water dis-posal treatment in the Rotterdam harbor, and the imple-mentation of a monitoring program of the water quality in the open sea along the North-Holland beaches. The valuation survey is based on a questionnaire undertaken at Zandvoort, a famous Dutch beach resort. Since the economic value of the marine protection program included non-market benefits associated with beach recreation, human health and marine ecosystem impacts, both contingent valuation and travel cost methods are used.

The current paper combines the results of two Sixth Framework Program EU research projects aimed at developing and testing methods for integrated assessment of health risks from environmental stressors, i.e. the INTARESE and the HEIMTSA project, both of which covered a case study on environmental lead. The INTARESE case study on lead in Europe was meant to illustrate the use of the Integrated Monitoring Framework Strategy to assess the health outcome of environmental pollution by evaluating the associations between lead in various environmental compartments (air, soil, dust, drinking water and diet) and lead concentrations in blood (B-Pb) for various age-related sub-populations. The case study was aimed to investigate whether environmental, exposure and biomonitoring data at general population level, covering all EU member states, could be integrated. The HEIMTSA case study on the other hand involved the full chain assessment from policy drivers to health effect quantification of lead exposure through locally produced food on loss of IQ in pre-school children at the population level across the EU-27, including monetary valuation of the estimated health impact. Main policy scenarios cover the period from 2000 to 2020 and include the most important Community policy developments expected to affect the environmental release of lead (Pb) and corresponding human exposure patterns. Three distinct scenarios were explored: the emission situation based on 2000 data, a business-as-usual scenario (BAU) up to 2010 and 2020 and a scenario incorporating the most likely technological change expected (Most Feasible Technical Reductions, MFTR) in response to current and future legislation. Analysing environmental data, significant correlations were found between B-Pb and the concentrations of Pb in air and diet. The significant decrease of the Pb in air over time from 0.31 µg/m 3 (P95: 0.94; n=98) prior to 1990 to 0.045 µg/m 3 (P95:0.11; n=256) in 2007 (latest observations included) (Δ=−85%) corresponds to a decline in B-Pb by 48% and 57% in adult women and adult men, respectively. The corresponding decline in B-Pb in primary school children is 32%. The observed B-Pb levels (biomonitoring data) for each age category from the INTARESE project were translated into an average loss of IQ points/individual using the methodology developed in the HEIMTSA project based on a literature survey, i.e. using an empirical relationship based on a meta-analysis performed by Schwartz (1994). The calculated losses in IQ points were subsequently further translated into the average cost/child using a cost estimate of €10.000 per loss of IQ point based on data from a literature review. In applying the methodology for estimating the health impact and monetary valuation of IQ loss developed during the HEIMTSA project to the INTARESE biomonitoring data, we estimate the societal benefit from the reduction strategies implemented to decrease environmental lead levels in Europe for primary-school children, representing a vulnerable population, to amount to 2.5x10 11 Euro at EU27 level.