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Abstract Aside from the provision of food and resources, the ecosystem functions supply humanity a wide array of services. Hazard reduction is one of these, and its value for communities is gaining rising attention. In the Alpine Space, rockfall and avalanches occur frequently and cause considerable damage, but are significantly mitigated by mountain ecosystems, mainly mountain forests. How to account this service in monetary terms is a current issue and several studies were undertaken with this purpose. This literature review provides a comprehensive overview depicting a “state of the art” of economic evaluation of this ecosystem service, noting their main features, approaches and results. Currently, a common background still does not exist and different studies developed a variety of methods to be adopted, both cost and preference based. We intend this review as a contribution to the increasing awareness of forests as a cost-efficient part of natural hazard management strategies in the Alpine Space. [ABSTRACT FROM AUTHOR]

Gravitational hazards, such as rockfall, constitute a major risk in mountainous areas, threatening dwellers, goods, and infrastructures, and ultimately posing a challenge to their development. Ecosystem-based solutions for Disaster Risk Reduction (Eco-DRR), such as protection forests, can play a significant role in mitigating these risks by integrating the protective structures currently adopted, which are often costly and could entail higher environmental impacts. This study develops an economic model called ASFORESEE (Alpine Space FORest Ecosystem Services Economic Evaluation) to assess the protective service forests provide against rockfall within a standardized framework adopting a precautionary approach. The Replacement Cost approach was adopted, measuring the protection effectiveness, the need for protection of the stakeholders and defining a harmonized method for the design of the defensive structures. Applying the model to a case study in the Italian Alps, the results show the forest has a relevant protective effect able to fulfil the stakeholders' needs, with a value of 30,440 € ha−1, equal to 950 € ha−1 year−1, within the 25-year timespan considered. ASFORESEE could feasibly be adopted in other mountainous contexts, due to its harmonized structure reliant on minimal assumptions. Its adoption would foster the acknowledgment of the forest role and to further support the inclusion of Eco-DRR in local risk management plans. [ABSTRACT FROM AUTHOR]