Valuation Methods

Adamowicz, Wiktor; Chapman, David; Mancini, Gene; Wayne,; Stirling, Andrew; Tomasi, Ted

doi:10.1201/9781420062632.ch4

Cited by 4 publications

(5 citation statements)

References 23 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Environmental economics approaches consider social welfare to be the objective and assume ecosystems to be part of the economy (US EPA, ). An alternative paradigm and set of valuation approaches have been proposed by ecological economists who consider the economy to be one component of a broader environmental system (Adamowicz et al., ). This paradigm shifts the focus from humans to ecosystems and defines value in terms of biophysical stocks and flows instead of directly in terms of human welfare (Munns and Rea, ; US EPA, ).…”

Section: Challenges For Es‐based Erasmentioning

confidence: 99%

See 1 more Smart Citation

Applying ecosystem services for pre‐market environmental risk assessments of regulated stressors

Devos

Munns

Forbes

et al. 2019

EFS2

View full text Add to dashboard Cite

Ecosystem services (ES) are the benefits that people obtain from ecosystems. Investigating the environment through an ES framework has gained wide acceptance in the international scientific community and is applied by policymakers to protect biodiversity and safeguard the sustainability of ecosystems. This approach can enhance the ecological and societal relevance of pre-market/ prospective environmental risk assessments (ERAs) of regulated stressors by: (1) informing the derivation of operational protection goals; (2) enabling the integration of environmental and human health risk assessments; (3) facilitating horizontal integration of policies and regulations; (4) leading to more comprehensive and consistent environmental protection; (5) articulating the utility of, and tradeoffs involved in, environmental decisions; and (6) enhancing the transparency of risk assessment results and the decisions based upon them. Realisation of these advantages will require challenges that impede acceptance of an ES approach to be overcome. Particularly, there is concern that, if biodiversity only matters to the extent that it benefits humans, the intrinsic value of nature is ignored. Moreover, our understanding of linkages among ecological components and the processes that ultimately deliver ES is incomplete, valuing ES is complex, and there is no standard ES lexicon and limited familiarity with the approach. To help overcome these challenges, we encourage: (1) further research to establish biodiversity-ES relationships; (2) the development of approaches that (i) quantitatively translate responses to chemical stressors by organisms and groups of organisms to ES delivery across different spatial and temporal scales, (ii) measure cultural ES and ease their integration into ES valuations, and (iii) appropriately value changes in ES delivery so that trade-offs among different management options can be assessed; (3) the establishment of a standard ES lexicon; and (4) building capacity in ES science and how to apply ES to ERAs. These development needs should not prevent movement towards implementation of an ES approach in ERAs, as the advantages we perceive of using this approach render it more than worthwhile to tackle those challenges. Society and the environment stand to benefit from this shift in how we conduct the ERA of regulated stressors.

show abstract

Section: Challenges For Es‐based Erasmentioning

confidence: 99%

“…Descriptions of a wide range of valuation concepts and methods are provided by Adamowicz et al. () and SAB (). The valuation of cultural services is particularly challenging, as described next.…”

Section: Challenges For Es‐based Erasmentioning

confidence: 99%

Applying ecosystem services for pre‐market environmental risk assessments of regulated stressors

Devos

Munns

Forbes

et al. 2019

EFS2

View full text Add to dashboard Cite

show abstract

“…Second, the outputs of risk characterization—statements of the nature, magnitude, and significance of risks—should be couched in terms and units that are amenable to valuation (monetized or otherwise) whenever possible. Although detailed exploration of valuation issues and approaches is beyond the scope of this study (but see USEPA ; Adamowicz et al ; Science Advisory Board ; and recent commentaries by Calow ; Kapustka and McCormick ; and Munns and Rea ), reflection of stakeholder (and more broadly, public) values is an important lynchpin to acceptance of assessment results and ultimately of the decision(s) they inform. Further, valuation regardless of form provides input to benefit‐cost analyses, a requirement in the United States for large actions (those exceeding US$100 million in cost to society), and an optional evaluation tool for evaluating alternative courses of action in many business and other decisions.…”

Section: Recommendations For Risk Assessment and Risk Managementmentioning

confidence: 99%

Ecosystem services in risk assessment and management

Munns

Poulsen

Gala

et al. 2016

Integr Envir Assess & Manag

View full text Add to dashboard Cite

The ecosystem services (ES) concept holds much promise for environmental decision making. Even so, the concept has yet to gain full traction in the decisions and policies of environmental agencies in the United States, Europe, and elsewhere. In this paper we examine the opportunities for and implications of including ES in risk assessments and the risk management decisions that they inform. We assert that use of ES will: 1) lead to more comprehensive environmental protection; 2) help to articulate the benefits of environmental decisions, policies, and actions; 3) better inform the derivation of environmental quality standards; 4) enable integration of human health and ecological risk assessment; and 5) facilitate horizontal integration of policies, regulations, and programs. We provide the technical basis and supporting rationale for each assertion, relying on examples taken from experiences in the United States and European Union. Specific recommendations are offered for use of ES in risk assessment and risk management, and issues and challenges to advancing use of ES are described together with some of the science needed to improve the value of the ES concept to environmental protection. Integr Environ Assess Manag 2017;13:62-73. © 2016 SETAC.

show abstract

“…In such instances, other approaches can be used to value changes in ES in nonmonetary terms that are useful to decision makers. Adamowicz et al () and SAB (2009) provide accessible descriptions of valuation concepts and methods.…”

Section: Types Of Ecological Benefits Categorized By Benefits Typementioning

confidence: 99%

“…Neoclassical environmental economic approaches, and to some extent social–psychological valuation methods, consider social welfare to be the objective and assume ecosystems to be part of the economy. An alternative paradigm and set of valuation approaches have been proposed by ecological economists who consider the economy to be one component of a broader environment system (Adamowicz et al ). Generally speaking, this paradigm shifts the focus from humans to ecosystems, and defines value in terms of biophysical stocks and flows instead of directly in terms of human welfare.…”

Section: Types Of Ecological Benefits Categorized By Benefits Typementioning

confidence: 99%