Valuing Nature: Demystifying Economic Valuation Paper

This paper covers the main issues, questions and principles surrounding economic valuation and is designed as an overview for those new to economic valuation. The paper brings together input from 120 volunteers from the economic valuation community. The paper provides a summary of agreed principles to help communication with other Valuing Nature research disciplines and users of economic value evidence.

Implementation

Ecosystem approach
Ecosystem management
Mitigation
Offsetting
Payment for ecosystem services
Reporting

Methods

Cost-based valuation
Cost-benefit analysis
Impact assessment
Natural capital accounting
Valuation: deliberative
Valuation: monetary
Valuation: narrative
Valuation: non-monetary
Valuation: preference assessment surveys
Valuation: socio cultural
Valuation: value transfer

Uses of this product

This new 12 page paper covers the main issues, questions and principles surrounding economic valuation and is designed as an overview for those new to economic valuation.
The paper covers the following topics:
   •   Why economic valuation?
   •   What is economic valuation?
   •   How do we estimate economic value?
   •   Whose values count?
   •   How do we use economic values in decision making?
   •   But economic values vary! And so they should!
   •   How to communicate economic value evidence.

Product requirements

This paper from Valuing Nature can be downloaded as a pdf so an internet connection or PDF viewer is required.

Advantages

The paper brings together input from 120 volunteers from the economic valuation community. The editors are Ece Ozdemiroglu and Rosie Hails from the Valuing Nature Programme Coordination Team.
The 'Demystifying Economic Valuation' group provided comments which have been used to design the contents of the paper. More information about the process to develop the paper can be found at: http://valuing-nature.net/economics
The paper provides a summary of agreed principles to help communication with other Valuing Nature research disciplines and users of economic value evidence.

Quality Assurance

Scientific peer review
Own QA and testing

Links

Contact details

The editors are Ece Ozdemiroglu and Rosie Hails from the Valuing Nature Programme Coordination Team.

Email: info@valuingnature.ne t

Other partners/contributors:

The Valuing Nature Programme is funded by the Natural Environment Research Council, the Economic and Social Research Council, the Biotechnology and Biological Sciences Research Council, the Arts and Humanities Research Council and the Department for Environment, Food and Rural Affairs.

Demystifying Economic Valuation