Environmental Economics Research Hub (EERH) Research Reports No. 98
21 Pages Posted: 10 Aug 2011
Date Written: April 1, 2011
The concept of ecosystem resilience is being increasingly discussed as a driver of biodiversity values. It implies that marginal deteriorations in ecosystem conditions can abruptly result in non-marginal and irreversible changes in ecosystem functioning and the economic values that the ecosystem generates. This challenges the traditional approach to the valuation of biodiversity, which has focused on quantifying values attached to individual species or other elements of ecosystems. As yet, little is known about the value society attaches to changes in ecosystem resilience. This paper investigates this value. A discrete choice experiment is used to estimate implicit prices for attributes used to describe ecosystem resilience using the Border Ranges rainforests in Australia as an example. We find evidence that implicit prices for the attributes describing ecosystem resilience are positive and statistically significantly different from zero.
Keywords: ecosystem resilience, discrete choice experiments, implicit prices, willingness to pay space
Suggested Citation: Suggested Citation
Bennett, Jeff and Scheufele, Gabriela, Valuing Ecosystem Resilience (April 1, 2011). Crawford School Research Paper ; Environmental Economics Research Hub (EERH) Research Reports No. 98. Available at SSRN: https://ssrn.com/abstract=1907462 or http://dx.doi.org/10.2139/ssrn.1907462