Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/144178 
Year of Publication: 
2016
Series/Report no.: 
UFZ Discussion Paper No. 9/2016
Publisher: 
Helmholtz-Zentrum für Umweltforschung (UFZ), Leipzig
Abstract: 
Biodiversity is an important environmental public good. However, the literature suggests that it is not clear how its economic value should be estimated; there is no established framework for doing this. This paper summarises concepts of biodiversity value from the ecological and economic literatures and combines them to a comprehensive and consistent framework. It is argued that biodiversity is the main carrier of insurance value, option value and spill-over value, and also influences the aesthetic appreciation of ecosystems. On that basis, an extension of the TEV framework is proposed to incorporate biodiversity values better. Furthermore, a number of specific challenges of biodiversity as an economic good are identified and used as criteria to inform the choice of suitable valuation methods.
Subjects: 
biodiversity
economic valuation
insurance value
option value
TEV
Document Type: 
Working Paper

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