Economic and ecological concepts for valuing ecosystem services

Abstract

The purpose of this special issue is to elucidate concepts of value and methods of valuation that will assist in guiding human decisions vis-à-vis ecosystems. The concept of ecosystem service value can be a useful guide when distinguishing and measuring where trade-offs between society and the rest of nature are possible and where they can be made to enhance human welfare in a sustainable manner. While win-win opportunities for human activities within the environment may exist, they also appear to be increasingly scarce in a 'full' global ecological-economic system. This makes valuation all the more essential for guiding future human activity. This paper provides some history, background, and context for many of the issues addressed by the remaining papers in this special issue. Its purpose is to place both economic and ecological meanings of value, and their respective valuation methods, in a comparative context, highlighting strengths, weakness and addressing questions that arise from their integration. © 2002 Elsevier Science B.V. All rights reserved.