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There is widespread debate over how best to consider and integrate nature's diverse value dimensions into decision-making over natural resources. Following an experimental approach, this study tests the impact of a monetary versus non-monetary framing on conservation preferences relating to (hypothetical) mountain and wetland sites in the Basque Country (Spain). The experiment also examines whether these framings evoke different levels of cognitive and experiential reasoning. The experiment was conducted online and had 305 participants from the Basque Country. Findings show that while participants believed non-monetary information (i) better reflects the value of nature, (ii) is more useful than monetary information for environmental decision-making, and (iii) scored it higher in terms of whether the information provided was sufficient to make an informed decision, monetary valuation had a greater pull in determining the actual allocation of the conservation budget. This result has important consequences as it demonstrates that exposure to different forms of information may unwittingly have a significant impact on decision-makers' judgement in management and policy decisions. [ABSTRACT FROM AUTHOR]

• A choice experiment implemented for analyzing societal preferences about Kalaritiko sheep breed. • The Total Economic Value of Kalaritiko sheep breed calculated using the Ecosystem Services framework. • Respondents placed significant values on Ecosystem Services stemming from the extensive rearing of Kalaritiko sheep. • Reformed agri-environmental policies can work synergistically with new marketing strategies for valorization and protection of Kalaritiko sheep. The loss of local sheep breeds (LSB) and Animal Genetic Resources in general threatens the nutrition and livelihood security of the present and future generations. Market forces and new production patterns are the main factors that have led to the underestimation of the Total Economic Value (TEV) (i.e. the aggregated use and non-use values) of LSB and, consequently, to their substitution by high-yielding imported ones. The objective of this study is to estimate the TEV of the Kalaritiko sheep (KaS) using the Ecosystem Services (ES) framework. For this purpose, a choice experiment was implemented analyzing the societal preferences of Attica Region dwellers regarding the most important ES stemming from the traditional, pasture-based production system (PPs) of KaS. Our results show that important use and non-use values are relevant to KaS PPs. The findings of this study call for the establishment of an incentive mechanism, where reformed agri-environmental policies can work synergistically with new marketing strategies, contributing to the valorization and protection of KaS and so its traditional PPs. [ABSTRACT FROM AUTHOR]

Quantifying ecosystem goods and services can help evaluate policies aimed at protecting present and future generations from losing ecosystem benefits. Explicating and quantifying the relationships among risk factors, ecological structure and function, and delivery of ecosystem goods and services requires analytical methodologies that propagate uncertainties. The capabilities of Bayesian networks in generating predictions and accounting for uncertainty are explored with a focus on coral reef ecosystem service assessments. The qualitative aspects of Bayesian networks can be applied to conceptual frameworks developed for coral reef ecosystem service assessments. This is demonstrated using qualitative graphs that describe the relationships between coral reef condition endpoints and benefits from ecosystem services including property protection, recreational opportunities, fish for fisheries, and biochemical metabolites for commercial products developed from reef organisms. Bayesian networks help weigh uncertainties between management decision impacts on stressors and the corresponding delivery of ecosystem services. Quantitative capabilities for inferences are examined in hypothetical scenarios evaluating how decisions affect coral reef ecosystem services and economic benefits and resilience to episodic stress. The described methods facilitate visualizing the potential impacts on ecosystem services from alternative scenarios. • Bayesian networks (BNs) can model causal issues in coral reef decision problems. • BNs can be adapted to many types of decision making and assessment frameworks. • BNs are especially insightful in high value, high uncertainty problems. • BNs are useful decision support tools for managing coral reef ecosystem services. [ABSTRACT FROM AUTHOR]

Understanding the global economic importance of farmed animals to society is essential as a baseline for decision making about future food systems. We estimated the annual global economic (market) value of live animals and primary production outputs, e.g., meat, eggs, milk, from terrestrial and aquatic farmed animal systems. The results suggest that the total global market value of farmed animals ranges between 1.61 and 3.3 trillion USD (2018) and is expected to be similar in absolute terms to the market value of crop outputs (2.57 trillion USD). The cattle sector dominates the market value of farmed animals. The study highlights the need to consider other values of farmed animals to society, e.g., finance/insurance value and cultural value, in decisions about the sector's future. • Global market value of farmed animals lays within 1.61–3.3 trillion USD (2018). • Market value of animals is likely similar to global crop output value (2.57 trillion USD). • Cattle contribute largest proportion to global value (and mass) of farmed animals. • Non-market values of farmed animals need to be considered in global decision making. [ABSTRACT FROM AUTHOR]

Ecosystem Services (ES) – the direct (e.g., food and natural medicines) and indirect (e.g., cultural diversity and aesthetic values) benefits people obtain from various ecosystems – need to be assessed to aid decision makers and concerned public in creating policies that ensure continuous flow of ES to their beneficiaries (e.g., fisheries, food, income, livelihood, and traditional way of life to fishers and consumers). However, to date, ES assessments in Philippine reefs are mostly concentrated only on fisheries and tourism or on few areas in the Philippines (e.g., Pangasinan and Bohol Marine Triangle). This study fills research gaps by assessing coral reefs across 15 regions in the Philippines by estimating the following: (1) potential reef fisheries and Willingness-To-Pay (WTP) biodiversity values using underwater surveys and literature data, (2) reef fisheries value using Bureau of Fisheries and Aquatic Resources (BFAR) and literature data, (3) tourism value using Department of Tourism (DOT) and literature data, and (4) Total Economic Value (TEV). The TEV of Philippine reefs' ES amounted to 4 billion US$/yr or 140,000 US$/km 2 /yr. Furthermore, in each region of the Philippines, annual TEV ranged from 100 to 800 million US$, with potential reef fisheries value contributing the most in the TEV, followed by reef fisheries, tourism, and WTP biodiversity values. In addition, the Visayas regions have the highest values of benefits from coral reefs. Although the Philippines is deriving millions to billions of dollars of economic benefits from coral reefs, the observed degradation and temporal decline in coastal ecosystems could lead to a decline in the potential reef fisheries value, subsequently the TEV. The Philippines need to improve accounting and managing the derived benefits from coral reefs to ensure the sustainability and continuous flow of these benefits for present and future Filipino beneficiaries. [ABSTRACT FROM AUTHOR]

This study quantifies the Total Economic Value (TEV) marine turtles contribute to the Semporna Priority Conservation Area in Sabah, Malaysia, based on field surveys conducted in May 2014 with marine stakeholders, including 60 fishing households, 9 resorts, and 7 government and academic institutions. The estimated TEV of marine turtles was USD 23 million per year, ranging from USD 21–25 million. The estimated non-consumptive value of marine turtles far exceeded the consumptive use value. Moreover, the protection of marine turtles could potentially generate 1146 tourism jobs, equivalent to USD 469,000 in employment income per year. Conservation could be partially funded from tourism, as tourists were willing to contribute USD 1.5 million for marine turtle protection and conservation annually. Scenario analysis showed that the discounted TEV of marine turtles could reach up to USD 716 million over 30 years if full protection of turtles was implemented now. This is more than double the discounted TEV of marine turtles under status quo conditions (USD 262 million). By showing the substantial economic value derived from marine turtles, this study not only provides an important incentive for protecting marine turtles in Semporna, but also for investing in conserving marine resources in the wider Coral Triangle and Asia Pacific region. [ABSTRACT FROM AUTHOR]

What gets measured gets managed is an axiom common to the business world that also applies to the management of environmental assets and processes. But what is the most adequate way to measure ecosystem value to optimise ecosystem management? In this paper, we unpack three valuation frameworks often applied in understanding ecosystem services and their benefits: 1) the Ecosystem Services framework, operationalised by the United Nations System of Environmental Economic Accounting - Ecosystem Accounting (SEEA-EA) framework; 2) value-centric approaches operationalised by the Total Economic Value framework; and 3) First Nations Peoples (FNP) frameworks, which seek to capture values from FNPs' perspective. By assessing the strengths and weaknesses of these value frameworks for managing the World's largest reef ecosystem—the Australian Great Barrier Reef—we construct an extended SEEA-EA valuation framework tailored to complex coastal settings. The significance of our approach is the inclusion of the whole range of benefits from all coastal and marine uses and users and therefore the integration of non-market and FNP values into the more traditional market-based valuation approach. Assessments that jointly consider multiple values originating from these three different frameworks are more likely to produce sustainable management outcomes than more restrictive approaches. [Display omitted] [ABSTRACT FROM AUTHOR]

Decades of failure to evaluate the ecosystem services provided by the Pekapeka Swamp located in Hawke’s Bay, New Zealand, led to decisions that allowed prolonged degradation of the wetland. In 1998 a long-term management plan was adopted to restore and preserve the swamp without evaluating the potential welfare benefits of the plan. This paper employs the contingent valuation method to estimate the total economic value of the restoration and preservation of Pekapeka Swamp. Data required for the analysis was generated using a survey questionnaire administered by mail to 958 households in the Hawke’s Bay region in 2008. An effective response rate of 42% was achieved after a second reminder. Using a dichotomous choice format with a follow-up open-ended valuation question, this study shows that, based on the population of the Hawke’s Bay region, the estimated total economic value ranges from NZ$1.64 million to NZ$ 3.78 million per year and the net present value ranges between NZ$5.05 million and NZ$16.39 million. These results imply that the restoration and preservation of Pekapeka Swamp is an important investment which the authorities should continue to support. These estimates may be used to justify future increases in the level of expenditure on the project. [ABSTRACT FROM AUTHOR]

The Southern surroundings of the metropolitan city of Milan up to the province of Lodi (in Lombardy region, in the North West of Italy), represent a very interesting area hosting religious sites (cloisters and abbeys), historic and naturalistic heritage. Actually, it is only connected by roads for motorized mobility, while pedestrian paths and cycle lanes are disregarded. In order to increase the accessibility and to connect the diffused heritage, in 2015 an infrastructural project for slow-mobility (bikers and pedestrians), titled “Cammino dei Monaci” (Monks’ Route, henceforth CdM), has been developed by the Politecnico di Milano. The aim of the present paper is to estimate the benefits related to the CdM slow-mobility project, through the Contingent Valuation Method (CVM), and therefore the willingness to pay (WTP) declared by the 472 families, living within 3.75 km of the path. These benefits are expected to be intangible for the most: they are both environmental, in terms of reduced motorized mobility and increased quality of life, and cultural, due to the improved promotion of the historic and religious heritage system. Besides, they concern not only the “users” of the infrastructures, but also the “potential” users and the “non-users” (Litman, 2016, 2015, 2013, 2011). The results of the CVM show that the collective benefits outweigh the costs to develop the CdM, thus suggesting that the project is feasible and represents a good opportunity for the development of whole area. Furthermore, the paper fills the gap in the literature, since the CVM method has been mainly applied for evaluating environmental and cultural goods. Seven sections compose the paper. After the introduction, Section 2 describes the project, while Section 3 presents a brief literature review on the CVM. Section 4 is dedicated to the methodology, and specifically to the application of the CVM to the case-study. Section 5 focuses on data and descriptive statistics. The results of the econometric analysis follow in Section 6, while Section 7 provides some discussion and policy recommendations. [ABSTRACT FROM AUTHOR]

• Understanding total economic values an important part of overcoming water scarcity in urban environments. • Total economic value in relation to organisations and circular water management is unexplored. • Direct and indirect use values dominate in research, benefitting solutions with obvious direct or indirect commercial potentials. • A need to increase awareness of the importance of caring for freshwater by recycling and reusing wastewater. Circular water management has the potential to close resource and material loops within and across value chains. In the water industry, circular municipal wastewater management through industrial urban symbiosis (IUS) is recognized as a solution to overcome water scarcity in urban environments. IUS involves collaboration between actors with different organizational backgrounds, which can lead to inherent risks of conflicting goals. This study explores how different values drive various organizations to participate in an emerging circular wastewater collaboration. The study comprises a literature review of 34 scientific articles and a case study of a potential circular wastewater system through IUS in Simrishamn, Sweden. It presents an interdisciplinary framework based on the total economic value concept and organizational archetypes for examining actor values in circular wastewater management. This framework provides a novel approach for assessing different values and how they may compete or align. It can also identify the absence of certain values, enabling the achievement of a minimum level of value coherence amongst different actors, and thereby increasing the sustainability and effectiveness of circular wastewater collaborations. Therefore, careful planning and stakeholder interaction, in accordance with economic value perspectives, can enhance the legitimacy and policy development of circular solutions. [ABSTRACT FROM AUTHOR]

In recent decades, environmental flows has emerged a major instrument for sustaining and/or rehabilitating the ecosystem functions and services of rivers worldwide. The holistic methodologies of assessment of environmental flows (=EFlows) take into account the physical, biological, water quality and socio-cultural as well as livelihood aspects of riverine ecosystems, and increasingly depend upon consultations with experts and local communities to make a negotiated socio-political decision by consensus within the society. This paper presents a conceptual framework for the assessment of EFlows on the basis of a change in total ecosystem services and their total economic value with the alteration of flow regimes. Such an assessment would consider the gain and loss of ecosystem services both upstream and downstream of the point of intervention which alters the flow regime. It is also proposed that the economic valuation should provide for appropriate weightages to ecosystem services with a strong social, cultural and livelihood bearing in regional/local context. It is further argued that a top-down approach to E-Flows assessment should be followed wherever possible to convince the policy makers. [ABSTRACT FROM AUTHOR]

The development of the Water Framework Directive aimed to establish an integrated framework of water management at European level. This framework revolves around inland surface waters, transitional waters, coastal waters and ground waters. In the process of achieving the environment and ecological objectives set from the Directive, the role of economics is put in the core of the water management. An important feature of the Directive is the recovery of total economic cost of water services by all users. The total cost of water services can be disaggregated into environmental, financial and resource costs. Another important aspect of the directive is the identification of major drivers and pressures in each River Basin District. We describe a methodology that is aiming to achieve sustainable and environmental and socioeconomic management of freshwater ecosystem services. The Ecosystem Services Approach is in the core of the suggested methodology for the implementation of a more sustainable and efficient water management. This approach consists of the following three steps: (i) socio-economic characterization of the River Basin area, (ii) assessment of the current recovery of water use cost, and (iii) identification and suggestion of appropriate programs of measures for sustainable water management over space and time. This methodology is consistent with a) the economic principles adopted explicitly by the Water Framework Directive (WFD), b) the three-step WFD implementation approach adopted in the WATECO document, c) the Ecosystem Services Approach to valuing freshwater goods and services to humans. Furthermore, we analyze how the effects of multiple stressors and socio-economic development can be quantified in the context of freshwater resources management. We also attempt to estimate the value of four ecosystem services using the benefit transfer approach for the Anglian River Basin, which showed the significance of such services. [ABSTRACT FROM AUTHOR]

Optimizing the multiple uses of land represents a challenge for today's governments and land managers. In particular, protected area planning should satisfy the demand for multiple land uses, while offering optimal protection of our natural resources. The present research aims at providing park's managers, as well as other stakeholders and decision makers, with a scientifically sound and practical approach to zoning protection levels and supporting the strategic planning phase in nature conservation. This paper thus proposes and tests the development of an indicators-based spatial Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis for a complex territorial system with exceptional multiple values. As a result, key conservation priorities and warning spots are identified to support the subsequent decision-making phase. The innovative value of the research stems not only from the integrated methodological approach based on the combination between spatial analysis, indicators systems and the traditional SWOT analysis, but also from the contextual characteristics and physical extension of the area under investigation. Moreover, the integrated and innovative framework proposed in the paper has also international significance, thanks to the possibility of replicating the research strategy and methodological approach in other contexts. [ABSTRACT FROM AUTHOR]

The objective of this study was to define the value of the main market and nonmarket functions of fjord and mountain agroecosystems in Nordic countries by means of the ecosystem services framework. First, we used qualitative methods (interviews of farmers and other stakeholders in the area of study) to identify sociocultural perceptions of multifunctional agriculture. Next, we used survey-based stated-preference methods to rank and value in economic terms the most important functions (corresponding to the four types of ecosystem services) according to the local (residents of the study area) and the general (residents of a nearby area) populations. The sociocultural perceptions of multifunctionality among local stakeholders were similar, but differences in the relative importance of the functions reflected particular interests (agriculture compared with tourism). Both the local and the general populations attached great importance to the production and availability of quality foods. The general population showed very homogeneous preferences among ecosystem services, but local people rated them very differently. Local people ranked a more agricultural landscape very high. The total economic value of fjord and mountain agroecosystem was 850 € per person per year. The willingness to pay for the provision of ecosystem services under a policy scenario of further development of multifunctional agriculture clearly exceeded the current level of public support. The welfare loss that society would experience in a scenario of further abandonment of agriculture was even greater. We discuss the establishment of payments for ecosystem services for addressing the undersupply of nonmarket functions of agriculture. [ABSTRACT FROM AUTHOR]

Water quality impairment due to excess nutrients has prompted the U.S. Environmental Protection Agency to require that states develop nutrient criteria regulations to address this problem. Because regulation of nutrients can be expensive, the Utah Division of Water Quality (DWQ) wanted an estimate of the benefits of nutrient reduction. Natural scientists provided social scientists with detailed current and future water quality outcomes under proposed nutrient management alternatives. Current and future water quality outcomes were used to develop a mail contingent valuation survey. Results show that Utah households who recreate on Utah's waters (“Users”) are willing to pay up to $13.63 monthly to prevent deterioration of water quality whereas nonusers are willing to pay up to $8.31 per month. Furthermore, Users are willing to pay up to $32 per month to improve water quality in areas that have already been—or are expected to be—degraded by excess nutrients. Our integrated natural science–social science survey design serves as a useful template for similar water quality studies, as well as providing results for benefit transfer by government entities unable to conduct an original benefits analysis as they develop numeric nutrient criteria. [ABSTRACT FROM AUTHOR]

Forests support human economy and well-being with multiple ecosystem services. In this paper, the ecosystem services generated in a mountainous forest area in North Italy were assessed in biophysical and monetary units. GIS was used to analyze and visualize the distribution and provision of different services. The assessment of ecosystem services in biophysical units was an important step to investigate ecosystem functions and actual service flows supporting socio-ecological systems. The Total Economic Value (TEV) of all the investigated ecosystem services was about 33 M€/yr, corresponding to 820 €/ha/yr. The provisioning services represented 40% of the TEV while the regulating and cultural services were 49% and 11%. The service of hydrogeological protection, particularly important in areas characterized by a high risk of avalanches and landslides, showed a major importance among the regulating services (81%) and within the TEV (40%). Results from mapping ecosystem services were useful in identifying and visualizing priority areas for different services, as well as exploring trade-offs and synergies between services. Finally, we argue that while a biophysical perspective can ensure a solid accounting base, a comprehensive economic valuation of all categories of forest ecosystem services can facilitate communication of their importance to policy makers. [ABSTRACT FROM AUTHOR]

Social valuation of ecosystem services and public policy alternatives is one of the greatest challenges facing ecological economists today. Frameworks for valuing nature increasingly include shared/social values as a distinct category of values. However, the nature of shared/social values, as well as their relationship to other values, has not yet been clearly established and empirical evidence about the importance of shared/social values for valuation of ecosystem services is lacking. To help address these theoretical and empirical limitations, this paper outlines a framework of shared/social values across five dimensions: value concept, provider, intention, scale, and elicitation process. Along these dimensions we identify seven main, non-mutually exclusive types of shared values: transcendental, cultural/societal, communal, group, deliberated and other-regarding values, and value to society. Using a case study of a recent controversial policy on forest ownership in England, we conceptualise the dynamic interplay between shared/social and individual values. The way in which social value is assessed in neoclassical economics is discussed and critiqued, followed by consideration of the relation between shared/social values and Total Economic Value, and a review of deliberative and non-monetary methods for assessing shared/social values. We conclude with a discussion of the importance of shared/social values for decision-making. [ABSTRACT FROM AUTHOR]

Martinique possesses 55 km 2 of coral reefs, 50 km 2 of sea grass and 20 km 2 of mangroves. These three ecosystems produce services to a value estimated at 250 million € (M€)/year (valuation recently undertaken under the French initiative for Coral Reef Conservation—the IFRECOR program). It is estimated that around 60% of this value originates from direct uses such as recreational activities (diving, excursions, beach activities, etc.) tourism and fisheries. Ecosystem services (indirect uses) such as coastal protection, carbon sequestration, biomass production and water purification are significant since their total value reaches 94 M€ annually (38% of the total economic value). Non-use values linked to improvements in health of coastal ecosystems is estimated to be 10 M€/year. At the ecosystem level, sea grass and mangrove contribute the most (per km 2 ) to wealth creation (2.16 M €/km 2 , 1.87 M €/km 2 respectively, against 1.78 M €/km 2 for coral reefs). They need, therefore, to benefit from protection and management measures in the same magnitude as coral reefs already receive. The valuation also shows that, due to policy inaction, the loss of value is about 2.5 M €/year, which urges politicians to develop a sound conservation policy. [ABSTRACT FROM AUTHOR]

Estimating the value of entire ecosystems in monetary units is difficult because they are complex systems composed of non-linear, interdependent components and the value of the services they produce are interdependent and overlapping. Using the Great Barrier Reef (GBR) as a case study, this paper explores a new ‘whole ecosystem’ approach to assessing both the importance (to overall quality of life) and the monetary value of various community-defined benefits, some of which align with various ecosystem services. We find that provisioning services are considered, by residents, to be less important to their overall quality of life than other ecosystem services. But our analysis suggests that many community-defined benefits are overlapping. Using statistical techniques to identify and control for these overlapping benefits, we estimate that the collective monetary value of a broad range of services provided by the GBR is likely to be between $15 billion and $20 billion AUS per annum. We acknowledge the limitations of our methods and estimates but show how they highlight the importance of the problem, and open up promising avenues for further research. With further refinement and development, radically different ‘whole ecosystem’ valuation approaches like these may eventually become viable alternatives to the more common additive approaches. [ABSTRACT FROM AUTHOR]

The reuse of historical buildings can be seen as a complex decision problem because of the presence of different objectives to be pursued, the public/private nature of the goods under investigation, the existence of several values (historical, artistic, cultural, economic, etc.), the presence of different actors (public government representatives, architects, architectural historians, developers and owners). In decision problems related to the reuse of historical assets conflicts can arise and the availability of analytical frameworks able to support the process is getting more and more important. It has been generally agreed that Multicriteria Decision Analysis (MCDA) can offer a formal methodology to deal with such decision problems, taking into account the available technical information and stakeholders’ values. This paper considers the problem of sustainability assessment in cultural heritage projects using the Multi-Attribute Value Theory (MAVT) approach, which is a particular kind of MCDA technique. Starting from a real case concerning the reuse of historical buildings in the metropolitan area of Torino (Italy), the paper aims at exploring the contribution of MAVT for decision problems in the field of cultural heritage. [ABSTRACT FROM AUTHOR]

Livestock breed-related public good functions are often used to justify support for endangered breed conservation despite the fact that little is known about such non-market values. We show how stated preference techniques can be used to assess the non-market values that people place on livestock breeds. Through the application of a case study choice experiment survey in Zamora province, Spain, the total economic value (TEV) of the threatened Alistana–Sanabresa (AS) cattle breed was investigated. An analysis of the relative importance of the non-market components of its TEV and an assessment of the socio-economic variables that influence people’s valuation of such components is used to inform conservation strategy design. Overall, the findings reveal that the AS breed had significant non-market values associated with it and that the value that respondents placed on each specific public good function also varied significantly. Functions related with indirect use cultural and existence values were much more highly valued than landscape maintenance values. These high cultural and existence values (totalling over 80% of TEV) suggest that an AS in situ conservation strategy will be required to secure such values. As part of such a strategy, incentive mechanisms will be needed to permit farmers to capture some of these public good values and thus be able to afford to maintain breed population numbers at socially desirable levels. One such mechanism could be related to the development of breed-related agritourism initiatives, with a view to enhancing private good values and providing an important addition to continued direct support. Where linked with cultural dimensions, niche product market development, including through improving AS breed-related product quality and brand recognition may also have a role to play as part of such an overall conservation and use strategy. We conclude that livestock breed conservation strategies with the highest potential to maximise societal welfare would be those that secure the breed-related functions that people value most, with appropriate in situ conservation interventions and strategies being identified accordingly. [ABSTRACT FROM PUBLISHER]

Abstract: Small-scale fisheries make key contributions to food security, sustainable livelihoods and poverty reduction, yet to date the economic value of small-scale fisheries has been poorly quantified. In this study, we take a novel approach by characterizing post-landing trends of small-scale fisheries resources and estimating their total economic value, including both commercial and subsistence values, in a remote rural region in Madagascar. We construct annual landings and characterize gear and habitat use, post-landing trends, fishing revenue, total market value, costs and net income, profitability, employment and dependence on small-scale fisheries. Our results show that the small-scale fisheries sector employs 87% of the adult population, generates an average of 82% of all household income, and provides the sole protein source in 99% of all household meals with protein. In 2010 an estimated 5524metric tons (t) of fish and invertebrates were extracted annually by small-scale fishers in the region, primarily from coral reef ecosystems, of which 83% was sold commercially, generating fishing revenues of nearly $6.0 million (PPP, 2010). When accounting for subsistence catch, total annual landings had an estimated value of $6.9 million (PPP, 2010). Our results demonstrate the importance of small-scale fisheries for food security, livelihoods, and wealth generation for coastal communities, and highlight the need for long-term management strategies that aim to enhance their ecological and economic sustainability. Our findings should catalyze national and regional policy makers to re-examine existing fisheries policies that neglect this sector, and spur researchers to better quantify small-scale fisheries globally. [Copyright &y& Elsevier]

Abstract: The assessment of total economic value has become a pragmatic and popular approach in nature valuation, yet criticisms have been raised. One major point of critique is that total economic value bases the monetary value of ecosystems purely on the flow of human benefits of services of ecosystems and consequently ignores questions of sustainable use of natural capital per se. This paper explains why total economic value by itself is in principle an inadequate concept to guide sustainable use of ecosystems and gives an overview of essential ecological theory that needs to be taken into account in addition to total economic value to fully include ecosystem sustainability. The paper concludes with a framework for combining ecological theory with economic valuation. The key elements here are theoretical ecological insights about ecosystem resilience and portfolio theory which offers an economic perspective on investment in biodiversity. Portfolio theory puts total economic value in a framework where investment in biodiversity is expanded to cover functional diversity and mobile link species in order to maintain ecosystem resilience and so fosters sustainable use of ecosystems. [Copyright &y& Elsevier]

Biodiversity underpins most economic activities in Seychelles, and loss of biodiversity as a result of invasive alien species (IAS) could result in major negative economic impacts for the country. This paper assesses the value of impacts of IAS on biodiversity, natural resources and the national economy, using the principles of total economic value (TEV). The contingent valuation method was used to obtain a willingness to pay (WTP) estimate for a policy to protect important biodiversity from IAS. Tourists indicated a mean WTP of US$52–US$58 on top of their usual expenditures to fund conservation policy. At present approximately US$0.25million per year is spent on IAS control while the economic damage associated with 4 key IAS is approximately US$21million per year. Comparing the benefits from eradication with the costs involved gives a benefit-cost ratio greater than unity, indicating that the policy of eradicating IAS is economically justified. However, there is a long way to go before the resources devoted to the problem will be in proportion to the risks. [Copyright &y& Elsevier]

This paper demonstrates a comprehensive methodology for assessing the viability of an environmental management plan that has long-run economic and ecological impacts. The case study under consideration is the implementation of a water-resource management plan in a water-scarce region of the world, namely Cyprus. Specifically, this plan proposes to replenish a depleting aquifer with treated wastewater. The proposed methodology first identifies the key stakeholder groups (farmers and the general public) who are hypothesized to derive economic values (benefits) from implementation of this plan, and then uses stated-preference methods to capture the total economic value of these benefits. Benefits are aggregated over the relevant populations of these stakeholder groups and weighed against the total costs of implementing the plan in a long-run cost-benefit analysis (CBA). An econometrically estimated time-declining trajectory of discount rates is used for the CBA in order to assess the long-run sustainability of the plan. The results reveal that the net benefit trajectory estimated with the time-declining discount rate takes one and a half to three times as long to come to a plateau compared to the constant discount rates of 3.5 and 6%, emphasizing the importance of using declining discount rates and capturing the entirety of the benefits generated by such plans. This methodology is particularly recommended for providing much needed information to support the implementation of the EU Water Framework Directive, which advocates the use of CBA with consideration of the notion of sustainability for achieving the “good water status” for all European waters. [Copyright &y& Elsevier]

Coastal and marine resources often require to be valued to assess management options and encourage sustainable policy-making. While numerous non-market valuation techniques are available, the complexity of biodiversity makes applications challenging. Typically, a small number of proxy assets (e.g. coral reefs) are used to represent more complex natural assets and processes in valuation exercises. While using proxies simplifies the assessment process, it can be challenging to interpret what values represent. We conduct a comprehensive review of the use of proxies to represent coral reef biodiversity in the Great Barrier Reef, Australia, spanning four decades (1983–2020) of literature. Studies are categorized based on the Total Economic Value and Ecosystem Services components they refer to, and the different approaches to the use of proxies. We identify that value estimates are sensitive to the type of proxy, and recommend habitat- or process-focused proxies over species-focused proxies as being more holistic and accurate. The most adequate proxies may, however, be considered on a case by case basis, depending on the policy question being addressed. • Four-decade review of economic valuation studies on coral reef biodiversity. • Focus on the use of proxies to value biodiversity in the Great Barrier Reef. • 102 economic values from 17 consumer surplus studies are compiled and analyzed. • Studies categorized using the Total Economic Value and Ecosystem Service frameworks. • Species-, habitat- and process-focused biodiversity proxies are investigated. [ABSTRACT FROM AUTHOR]

Abstract: For the period 1991–2005 inclusive we categorise peer-reviewed journal output depending on whether it pertains to case-studies in a) cropland or b) aggregate semi-natural and natural terrestrial (ASNNT) ecosystems for three applications in ecological modelling: 1) modelling of terrestrial carbon and nitrogen fluxes; 2) modelling of terrestrial root systems; 3) geographic information systems. Next we compare these research output magnitudes for case-studies in cropland and ASNNT ecosystems with estimates of the total economic value (TEV) of either system. For applications 1) and 3) the magnitude of research output for ASNNT ecosystems between 1991–2005 is greater than for cropland and research into the former is increasing at a faster rate over time compared to the latter. Given that the TEV of ASNNT ecosystems is 82 times greater than the TEV of cropland we deem these trends in research output as desirable under the assumption that value and research should be interdependent. However for application 2), although research into ASNNT ecosystems is increasing at a faster rate compared to cropland, total research output between 1991–2005 is greater for cropland. We conclude that increased research output which focuses on ASNNT ecosystems in this particular application should be a priority, given the high TEV of ASNNT ecosystems relative to cropland. [Copyright &y& Elsevier]

Abstract: Beyond a purely typological distinction between use, option and non-use values, these different environmental values are not treated differently within the concept of Total Economic Value. When expressed in monetary terms from individual preferences, these values are incorporated into a sole approach reasoning in terms of utility. In this paper, we argue that option and non-use values stem from more different levels of choice problems than use values and thus, must be apprehended in a multidimensional framework. We distinguish three levels of choice problem to which various rationality criteria of Social Cost–Benefit Analysis are attached. This allows us to make a distinction between the different components of the value of the environment according to the level of problems to which they''re relevant. Thus, we propose to re-interpret the concept of Total Economic Value, particularly option and non-use values, within this multidimensional framework. We present an application of this framework for the selection of preferred highway route (highway A85 in France). [Copyright &y& Elsevier]

Using the literature on modelling of C and N fluxes through cropland and aggregate semi-natural/natural terrestrial (ASNNT) ecosystems for the period 1991–2002, in conjunction with estimates of total economic value for both systems, we illustrate how missing markets for ecological goods and services might have biased the research output in favour of croplands. Using the results of Costanza et al. [Nature 387 (1997) 253], we can estimate that the total economic value for cropland is US$0.128 trillion (1012) per year compared to US$10.491 trillion for ASNNT ecosystems. Fitting trendlines to the research output data, we show that this 82-fold difference in value is accompanied by an average of twice as much study (1.17–2.48 range) for the ASNNT ecosystems group. Through a basic analysis, we suggest that at least three times as much study for ASNNT ecosystems over cropland was justified between 1991 and 2002. [Copyright &y& Elsevier]

This paper reports an attempt to apply the Contingent Valuation Method (CVM) in rural China. The CVM was used to obtain estimates of willingness to pay for restoring Ejina ecosystem services. In our survey, we used a payment card format and a 12-page survey booklet with maps depicting the reasons why Ejina ecosystem deteriorated, the means by which ecosystem services could be restored from their current level. We used an in-person interview along with the survey booklet. We employed a parametric model to estimate the benefits of restoring Ejina ecosystem. Results from 700 in-person interviews indicate that households would pay an average of 19.37 (RMB) per year with 20.78 per household for the main river area, and 16.41 per household for the rest of Hei basin. The aggregate benefit to residents of the Hei basin is 8.84 million annually for 20 years. Taking into account an environmental discount rate calculated by using respondent''s equivalent utility between periodical payments and lump sum payments, the present value of aggregate benefit of restoring Ejina ecosystem is 55.33 million. These results suggest that the general public in Hei Valley would be willing to pay to restore the Ejina ecosystem, although this amount is substantially less than the estimated costs of restoration. [Copyright &y& Elsevier]

The agricultural sector faces a series of environmental challenges such as water and soil pollution, erosion or biodiversity loss, especially in monoculture systems. Alternatively, crop diversification is seen as an option to reduce negative impacts and to enhance agricultural Ecosystem Services (ES). Most of these ES, such as improving resilience, despite the benefits and the high social value, do not take part in the market. In this context, the present paper presents an analysis of social preferences regarding crop diversification practices in Mediterranean agroecosystems. To do so, a choice experiment has been developed to assess social demand for more welfare-improving agricultural cropping systems. Benefits were obtained from improving environmental and cultural ES provision due to intercropping, as crop diversification practices. The results show a strong social preference for crop diversification with regard to all the benefits considered in the experiment. In fact, the total economic value for non-market goods and services provided by intercropping, which ranges from 900 to 1400 €/ha/year, for some crops might be potentially higher than cropland financial benefits. These results highlight the social support for a change in agricultural model to reach sustainable agroecosystems, which is essential to ensure the success of agrarian and rural development policies. • Social demand of Ecosystem Services provided by intercropping practices on irrigated agroecosystem is estimated. • Biodiversity, erosion, carbon balance, cultural heritage and diverse landscape are the Ecosystem Services flows valued. • Non-market diversification benefits could become higher than market benefits in some agroecosystems. • Environmental and social intercropping benefits overcome the current agri-environmental Common Agricultural Policy payments. [ABSTRACT FROM AUTHOR]

• Our objective in this paper is to construct a decision-making framework for river ecological base flow considering the total economic value of economic service functions and ecological service functions of rivers system. • This framework can provide a valuable reference for decision- making the ecological base flow of river in the water shortage area of northwest China. • This conceptual framework can provide a quantitative basis for water management in water shortages area. Understanding how much water should be left in rivers is a hot topic around the world. Here, we proposed a decision-making framework for ecological base flow of rivers considering the total economic value of economic service functions and ecological service functions of rivers system. This framework mainly includes three key steps. Firstly, we analyzed the ecological services functions of rivers system (i.e., water used for the ecological base flow of rivers) and economic service functions (i.e., water used for economic sectors) and explained their relationship. Secondly, we calculate the economic values of economic service functions and ecological services functions of rivers system, respectively. Finally, we determined the recommended ecological base flow of rivers by reaching the maximum value in the change process of the total economic value of the ecological and economic services functions of rivers system. We applied this framework to determine the river ecological base flow in the Baoji Section of Weihe River, which is the largest tributary of the Yellow River, Northwest China. The calculations results revealed that the recommended ecological base flow of rivers is 35.02% of the natural runoff in Baoji section of Weihe River. This work can provide a valuable reference for decision-making the ecological base flow of river in the water shortage area of Northwest China. [ABSTRACT FROM AUTHOR]