Table 3: Ecosystem services and suggested monetary valuation techniques.
Ecosystem Service
Market-based
Food
Market prices, producer & consumer surplus
Water for Consumption
Market prices, producer & consumer surplus
Building and Fibre
Market prices, producer & consumer surplus
Genetic Resources
Market prices, producer & consumer surplus
Biochemicals, Medicines and
Pharmaceuticals
Ornamental Resources
Transport Infrastructure
surplus, noting probability of commercial
success
Market prices, producer & consumer surplus
Productivity gains, producer surplus,
replacement cost
Hedonic pricing (property
Contingent valuation, Contingent
values)
choice
Defensive-avertive expenditures, producer
Hedonic pricing (property
Contingent valuation, Contingent
surplus
values)
choice
Defensive-avertive expenditures, reduction in
Hedonic pricing (property
cost of illness, replacement/treatment costs,
values), Travel cost (alternative
producer surplus
sites or uses)
cost of illness, replacement/repair costs,
producer surplus
Habitable Climate
Water Quality
Stated Preference
Market prices, producer and consumer
Defensive-avertive expenditures, reduction in
Air Quality
Surrogate Market
Contingent valuation, Contingent
choice
1
Ecosystem Service
Arable Land
Buffering Against Extremes
Pollination
Reduce Pests and Diseases
Productive Soils
Market-based
Hedonic pricing (property
replacement cost
values)
Damage cost avoided, including probability of
Hedonic pricing (property
Contingent valuation, Contingent
occurrence
values)
choice
Productivity gains, producer surplus
Contingent valuation, Contingent
in cost of illness
values)
choice
Productivity gains, producer surplus,
Hedonic pricing (property
replacement cost
values)
cost of illness, replacement/treatment costs,
producer surplus in activities drawing on iconic
species
Market values of similar items or substitutes,
producer surplus in activities drawing on
cultural diversity
Spiritual and Religious
Values
values)
Hedonic pricing (property
Market values of similar items or substitutes,
Cultural Diversity
Hedonic pricing (property
Productivity gains, producer surplus, reduction
producer surplus
Iconic Species
Stated Preference
Productivity gains, producer surplus,
Defensive-avertive expenditures, reduction in
Noise Abatement
Surrogate Market
Market values of goods, services and
dependent activities related to spiritual and
religious values
Hedonic pricing (property
Contingent valuation, Contingent
values)
choice
Contingent valuation, Contingent
choice
Contingent valuation, Contingent
choice
Contingent valuation, Contingent
choice
2
Ecosystem Service
Knowledge Systems
Inspiration
Aesthetic Values
Effect on Social Interactions
Sense of Place
Iconic Landscapes
Recreational Opportunities
Market-based
Surrogate Market
Market values of knowledge-based goods,
Contingent valuation, Contingent
services and dependent activities
choice
Market values of creatively based goods,
Contingent valuation, Contingent
services and dependent activities
choice
Market values of aesthetically-based attributes
Contingent valuation, Contingent
or dependent activities
choice
Reduction/avoidance of costs of social
Contingent valuation, Contingent
dysfunction
choice
Market values of similar locations,
environments or dependent activities
Market values of similar attributes or
dependent activities
Market values of similar recreational activities
Travel cost, Hedonic pricing
Travel cost, Hedonic pricing
Travel cost, Hedonic pricing
Market values of similar activities,
Therapeutic Landscapes
Stated Preference
reduction/avoidance of costs of illness and
social dysfunction
Travel cost, Hedonic pricing
Contingent valuation, Contingent
choice
Contingent valuation, Contingent
choice
Contingent valuation, Contingent
choice
Contingent valuation, Contingent
choice
3