Abstract
Valuing ecosystem services: taking stock Since the publication of the Millennium Ecosystem Assessment in 2005, the number of studies on the economic valuation of ecosystem services has increased. At the same time manifold doubts are raised concerning the concept of ecosystem services. On the one hand there are knowledge gaps related to the biophysical provision of such services, on the other hand methodological problems exist concerning 1) the determination of individual and social preferences as well as 2) the valuation approach in general. The present article addresses critical aspects of economic valuation methods. It concludes that it should not be striven for the one perfect method, but rather to look for ways to improve and integrate the different approaches. Promising initiatives are the comprehensive assessment of the available knowledge within the framework of the Intergovernmental Platform on Biodiversity and Ecosystem Services, and the development of common valuation standards.
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