This paper gives an overview of the value of ecosystem services of 10 main biomes expressed in monetary units. In total, over 320 publications were screened covering over 300 case study locations. Approximately 1350 value estimates were coded and stored in a searchable Ecosystem Service Value Database (ESVD). A selection of 665 value estimates was used for the analysis. Acknowledging the uncertainties and contextual nature of any valuation, the analysis shows that the total value of ecosystem services is considerable and ranges between 490 int$/year for the total bundle of ecosystem services that can potentially be provided by an ?average? hectare of open oceans to almost 350,000 int$/year for the potential services of an ?average? hectare of coral reefs. More importantly, our results show that most of this value is outside the market and best considered as non-tradable public benefits. The continued over-exploitation of ecosystems thus comes at the expense of the livelihood of the poor and future generations. Given that many of the positive externalities of ecosystems are lost or strongly reduced after land use conversion better accounting for the public goods and services provided by ecosystems is crucial to improve decision making and institutions for biodiversity conservation and sustainable ecosystem management.Peer reviewe

Several economic reviews demonstrate the substantial costs related to climate change and consequently call for early action. These reviews, however, have been limited to measuring ‘objective’ risks and expected material damage related to climate change. The ‘subjective’ perceived risk of climate change and society’s willingness to pay (WTP) to avoid these risks are expected to provide an important additional motivation for direct action. We investigate whether and why air travel passengers—an increasingly important source of greenhouse gas emissions—are supportive of measures that increase the cost of their travel based on the polluter pays principle and compensate the damage caused by their flight. Compared to the results of the few previous studies that have elicited WTP estimates for climate policy more generally, our results appear to be at the lower end of the scale, while a comparison to estimates of the social cost of carbon shows that the average WTP estimate in this study is close to the estimated marginal damage cost. Although significant differences are found between travellers from Europe, North America, Asia and the rest of the world, we show that there exists a substantial demand for climate change mitigation action. The positive risk premium over and above the expected property damage cost assessments should be accounted for more explicitly in economic reviews as it will add to the burden of proof of direct action. Measurements of passenger WTP will help policy makers to design effective financial instruments aimed at discouraging climate-unfriendly travel activities as well as to generate funds for the measures directed at climate change mitigation and adaptation. Based on stated WTP by travellers to offset their greenhouse gas emissions, funds in the order of magnitude of €23 billion could be generated annually to finance climate change mitigation activities.

Hawai'i's coral reef ecosystems provide many goods and services to coastal populations, such as fisheries and tourism. They also form a unique natural ecosystem, with an important biodiversity value as well as scientific and educational value. Also, coral reefs form a natural protection against wave erosion. Without even attempting to measure their intrinsic value, this paper shows that coral reefs, if properly managed, contribute enormously to the welfare of Hawai'i through a variety of quantifiable benefits. Net benefits are estimated at $360 million a year for Hawai'iÕs economy, and the overall asset value of the state of Hawai'iÕs 1660 km2 (410,000 acres) of potential reef area in the main Hawaiian Islands is estimated at nearly $10 billion.

Stated preference studies are increasingly employed to estimate the value of attributes of European agrarian landscapes and changes therein. Despite the vast amount of case studies, preferences for landscape attributes are context specific, which inhibits cross-case comparison and up-scaling. In this study, we address this problem by applying a meta-analysis of stated preference studies that focus on attributes of European agrarian landscapes (n= 345). The main objective of this study is to identify generic preferences for particular types of landscape attributes across case studies. In addition, landscape context variables that explain preference heterogeneity between different cases that address similar landscape attributes are identified. We find that landscape attributes that describe mosaic land cover, historic buildings or the presence of livestock generally receive the highest stated preferences across cases. Furthermore, we find relations between preferences for particular attributes and context variables - such as population density and GDP per capita - using a meta-regression analysis. The results of the present study provide the first cross-disciplinary and cross-case evidence on relations between preferences for landscape attributes and socio-economic and landscape context conditions. The study is a first step toward up-scaling of landscape preferences and the development social landscape indicators that reflect the perceived value of landscapes at regional and pan-regional scales, which is increasingly important as landscape policies are progressively implemented at European level