February 13, 2007

Ecosystem Goods and Services Series: Valuation 101
February 12, 2007 10:24 AM
How much is a pristine lake worth? A clean atmosphere? An oil field?
Answering these questions takes us from the heart of economic philosophy to the frontiers of analytical science. It turns out to be very difficult to give objective monetary values, even in principle. But as our analytical capabilities and understanding of ecosystem services increases, we're developing useful valuation methods that will form the basis for future policy and financial activities.