Developments and future opportunities for the economic and wider socio-cultural valuation of ecosystem services.

Abstract

Abstract This paper explores the limits to the economic valuation of ecosystem services. It observes that economics has an important role in the design of policy tools that can stimulate the delivery of beneficial ecosystem services, but acknowledges that the relationship between human beings and the environment is more complex than one that can be explained by a reliance on utility-based values alone. This paper reviews the nature and role of socio-cultural values and efforts by both social and natural scientists to recognize the range and diversity of values that people attach to the environment. It explores the contribution of alternative valuation approaches, specifically deliberative methods and indicates where we might choose to look for more integrated approaches while not losing sight of our dependence on fundamental ecosystem services.