IDEAS home Printed from https://ideas.repec.org/a/ags/aareaj/283212.html
   My bibliography  Save this article

The economic value of forests in supplying local climate regulation

Author

Listed:
  • Figueroa, Eugenio
  • Pasten, Roberto

Abstract

Several authors have argued that forest ecosystems serve as a hedge against extreme climatic events at a local scale. Consequently, the local climate regulation ecosystem services provided by forests can be economically valued by evaluating the reduction (increase) in the insurance premium that risk-averse individuals are willing to pay when forest cover is marginally increased (reduced). This type of insurance value associated to forest ecosystems services is estimated to be USD 0.0733 per hectare of forest for Chilean farmers. The empirical framework proposed in this paper is useful and relevant for the cost-benefit analysis of natural resource conservation investments

Suggested Citation

  • Figueroa, Eugenio & Pasten, Roberto, 2015. "The economic value of forests in supplying local climate regulation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 59(3), July.
    • Handle: RePEc:ags:aareaj:283212
    DOI: 10.22004/ag.econ.283212
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/283212/files/ajar12096.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.283212?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dominic White & Niven Winchester, 2023. "Logs or permits? Forestry land use decisions in an emissions trading scheme," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 67(4), pages 558-575, October.
    2. Agnieszka Lorek & Paweł Lorek, 2021. "Social Assessment of the Value of Forests and Protected Areas on the Example of the Silesian Voivodeship," Sustainability, MDPI, vol. 13(6), pages 1-12, March.
    3. Valente, Donatella & Miglietta, Pier Paolo & Porrini, Donatella & Pasimeni, Maria Rita & Zurlini, Giovanni & Petrosillo, Irene, 2019. "A first analysis on the need to integrate ecological aspects into financial insurance," Ecological Modelling, Elsevier, vol. 392(C), pages 117-127.
    4. Soto-Montes-de-Oca, Gloria & Bark, Rosalind & González-Arellano, Salomón, 2020. "Incorporating the insurance value of peri-urban ecosystem services into natural hazard policies and insurance products: Insights from Mexico," Ecological Economics, Elsevier, vol. 169(C).
    5. Sun, Xuehui & Li, Xueming & Guan, Zhangnan & Liu, Jian & Zhang, Shuping, 2017. "The use of meteorological data to assess the cooling service of forests," Ecosystem Services, Elsevier, vol. 25(C), pages 28-34.

    More about this item

    Keywords

    Environmental Economics and Policy;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aareaj:283212. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.