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https://doi.org/10.21256/zhaw-29888| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Dealing with negative monetary ecosystem services values in environmental and economic accounting |
| Authors: | Zabel von Felten, Astrid Bokusheva, Raushan Bozzola, Martina |
| et. al: | No |
| DOI: | 10.1016/j.ecoser.2024.101602 10.21256/zhaw-29888 |
| Published in: | Ecosystem Services |
| Volume(Issue): | 66 |
| Issue: | 101602 |
| Issue Date: | Apr-2024 |
| Publisher / Ed. Institution: | Elsevier |
| ISSN: | 2212-0416 |
| Language: | English |
| Subjects: | Monetary valuation of ecosystem services; Exchange value approach; Negative exchange value; Hydropower; Switzerland |
| Subject (DDC): | 333: Economics of land and resources |
| Abstract: | The concept of exchange values refers to the theoretical notion of an exchange happening for ecosystem services between an ecosystem asset and an economic agent. The United Nations System of Environmental Economic Accounting recommends using market prices as exchange values whenever possible, or otherwise, exchange value estimates that conceptually come close to market prices. However, in countries with highly regulated access to natural resources, the observable market prices or exchange value estimates for ecosystem services may often be distorted or even negative. When exchange values are used for decision support or as evidence base for policy making, negative values can be misleading. To address this issue, we present ideas on how to include the institutional resource regime that governs ecosystem services into the computation of exchange values. This analysis can help identify policy interventions that increase or decrease exchange values from free-market levels and can provide guidance on how to correct for distorted value estimates. Further it can help to better understand negative exchange value estimates as well as reasons why society may be willing to accept, and eventually, compensate for them. We argue that the insurance value of ecosystems can be one such reason. To exemplify the application of the extended framework, we present a case study on the monetary valuation of water for hydropower production in Switzerland. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/29888 |
| Fulltext version: | Published version |
| License (according to publishing contract): | CC BY 4.0: Attribution 4.0 International |
| Departement: | Life Sciences and Facility Management |
| Organisational Unit: | Institute of Natural Resource Sciences (IUNR) |
| Published as part of the ZHAW project: | ValPar.CH – Werte der Ökologischen Infrastruktur in Schweizer Pärken |
| Appears in collections: | Publikationen Life Sciences und Facility Management |
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| File | Description | Size | Format | |
|---|---|---|---|---|
| 2024_Zabel-etal_Dealing-with-negative-monetary-ecosystem-values_ecoser.pdf | 4.03 MB | Adobe PDF |  View/Open |
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Zabel von Felten, A., Bokusheva, R., & Bozzola, M. (2024). Dealing with negative monetary ecosystem services values in environmental and economic accounting. Ecosystem Services, 66(101602). https://doi.org/10.1016/j.ecoser.2024.101602
Zabel von Felten, A., Bokusheva, R. and Bozzola, M. (2024) ‘Dealing with negative monetary ecosystem services values in environmental and economic accounting’, Ecosystem Services, 66(101602). Available at: https://doi.org/10.1016/j.ecoser.2024.101602.
A. Zabel von Felten, R. Bokusheva, and M. Bozzola, “Dealing with negative monetary ecosystem services values in environmental and economic accounting,” Ecosystem Services, vol. 66, no. 101602, Apr. 2024, doi: 10.1016/j.ecoser.2024.101602.
ZABEL VON FELTEN, Astrid, Raushan BOKUSHEVA und Martina BOZZOLA, 2024. Dealing with negative monetary ecosystem services values in environmental and economic accounting. Ecosystem Services. April 2024. Bd. 66, Nr. 101602. DOI 10.1016/j.ecoser.2024.101602
Zabel von Felten, Astrid, Raushan Bokusheva, and Martina Bozzola. 2024. “Dealing with Negative Monetary Ecosystem Services Values in Environmental and Economic Accounting.” Ecosystem Services 66 (101602). https://doi.org/10.1016/j.ecoser.2024.101602.
Zabel von Felten, Astrid, et al. “Dealing with Negative Monetary Ecosystem Services Values in Environmental and Economic Accounting.” Ecosystem Services, vol. 66, no. 101602, Apr. 2024, https://doi.org/10.1016/j.ecoser.2024.101602.
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