IDEAS home Printed from https://ideas.repec.org/a/eee/ecoser/v66y2024ics2212041624000081.html
   My bibliography  Save this article

Dealing with negative monetary ecosystem services values in environmental and economic accounting

Author

Listed:
  • Zabel, Astrid
  • Bokusheva, Raushan
  • Bozzola, Martina

Abstract

The concept of exchange values refers to the theoretical notion of an exchange happening for ecosystem services between an ecosystem asset and an economic agent. The United Nations System of Environmental Economic Accounting recommends using market prices as exchange values whenever possible, or otherwise, exchange value estimates that conceptually come close to market prices. However, in countries with highly regulated access to natural resources, the observable market prices or exchange value estimates for ecosystem services may often be distorted or even negative. When exchange values are used for decision support or as evidence base for policy making, negative values can be misleading.

Suggested Citation

  • Zabel, Astrid & Bokusheva, Raushan & Bozzola, Martina, 2024. "Dealing with negative monetary ecosystem services values in environmental and economic accounting," Ecosystem Services, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:ecoser:v:66:y:2024:i:c:s2212041624000081
    DOI: 10.1016/j.ecoser.2024.101602
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2212041624000081
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ecoser.2024.101602?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Paavola, Jouni & Primmer, Eeva, 2019. "Governing the Provision of Insurance Value From Ecosystems," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.
    2. Carl Obst & Lars Hein & Bram Edens, 2016. "National Accounting and the Valuation of Ecosystem Assets and Their Services," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(1), pages 1-23, May.
    3. Schaefli, Bettina & Manso, Pedro & Fischer, Mauro & Huss, Matthias & Farinotti, Daniel, 2019. "The role of glacier retreat for Swiss hydropower production," Renewable Energy, Elsevier, vol. 132(C), pages 615-627.
    4. Schaub, Sergei & Buchmann, Nina & Lüscher, Andreas & Finger, Robert, 2020. "Economic benefits from plant species diversity in intensively managed grasslands," Ecological Economics, Elsevier, vol. 168(C).
    5. Stefan Baumgärtner & Martin F. Quaas, 2010. "Managing increasing environmental risks through agrobiodiversity and agrienvironmental policies," Agricultural Economics, International Association of Agricultural Economists, vol. 41(5), pages 483-496, September.
    6. Hein, Lars & Remme, Roy P. & Schenau, Sjoerd & Bogaart, Patrick W. & Lof, Marjolein E. & Horlings, Edwin, 2020. "Ecosystem accounting in the Netherlands," Ecosystem Services, Elsevier, vol. 44(C).
    7. Vardon, Michael & Burnett, Peter & Dovers, Stephen, 2016. "The accounting push and the policy pull: balancing environment and economic decisions," Ecological Economics, Elsevier, vol. 124(C), pages 145-152.
    8. Gerber, Jean-David & Knoepfel, Peter & Nahrath, Stéphane & Varone, Frédéric, 2009. "Institutional Resource Regimes: Towards sustainability through the combination of property-rights theory and policy analysis," Ecological Economics, Elsevier, vol. 68(3), pages 798-809, January.
    9. Cook, David & Malinauskaite, Laura & Davíðsdóttir, Brynhildur & Ögmundardóttir, Helga, 2021. "Co-production processes underpinning the ecosystem services of glaciers and adaptive management in the era of climate change," Ecosystem Services, Elsevier, vol. 50(C).
    10. Lange, Sabine & Campagne, Carole Sylvie & Comte, Adrien & Bank, Emily & Santos-Martín, Fernando & Maes, Joachim & Burkhard, Benjamin, 2022. "Progress on ecosystem accounting in Europe," Ecosystem Services, Elsevier, vol. 57(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Comte, Adrien & Sylvie Campagne, C. & Lange, Sabine & Bruzón, Adrián García & Hein, Lars & Santos-Martín, Fernando & Levrel, Harold, 2022. "Ecosystem accounting: Past scientific developments and future challenges," Ecosystem Services, Elsevier, vol. 58(C).
    2. Sylla, Marta, 2024. "The application of ecosystem accounting principles at the local scale for a protected landscape: A case study of the Sleza Landscape Park in Poland," Ecosystem Services, Elsevier, vol. 66(C).
    3. Sylla, Marta & Harmáčková, Zuzana V. & Grammatikopoulou, Ioanna & Whitham, Charlotte & Pártl, Adam & Vačkářová, Davina, 2021. "Methodological and empirical challenges of SEEA EEA in developing contexts: Towards ecosystem service accounts in the Kyrgyz Republic," Ecosystem Services, Elsevier, vol. 50(C).
    4. Ioannis Souliotis & Nikolaos Voulvoulis, 2021. "Natural Capital Accounting Informing Water Management Policies in Europe," Sustainability, MDPI, vol. 13(20), pages 1-24, October.
    5. Bagstad, Kenneth J. & Ingram, Jane Carter & Shapiro, Carl D. & La Notte, Alessandra & Maes, Joachim & Vallecillo, Sara & Casey, C. Frank & Glynn, Pierre D. & Heris, Mehdi P. & Johnson, Justin A. & Lau, 2021. "Lessons learned from development of natural capital accounts in the United States and European Union," Ecosystem Services, Elsevier, vol. 52(C).
    6. Sergei Schaub & Nadja El Benni, 2024. "How do price (risk) changes influence farmers’ preferences to reduce fertilizer application?," Agricultural Economics, International Association of Agricultural Economists, vol. 55(2), pages 365-383, March.
    7. Giles Atkinson & Paola Ovando, 2022. "Distributional Issues in Natural Capital Accounting: An Application to Land Ownership and Ecosystem Services in Scotland," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(2), pages 215-241, February.
    8. Vardon, Michael & May, Steve & Keith, Heather & Burnett, Peter & Lindenmayer, David, 2019. "Accounting for ecosystem services – Lessons from Australia for its application and use in Oceania to achieve sustainable development," Ecosystem Services, Elsevier, vol. 39(C).
    9. Jørgensen, Sisse Liv & Termansen, Mette & Pascual, Unai, 2020. "Natural insurance as condition for market insurance: Climate change adaptation in agriculture," Ecological Economics, Elsevier, vol. 169(C).
    10. Capriolo, A. & Boschetto, R.G. & Mascolo, R.A. & Balbi, S. & Villa, F., 2020. "Biophysical and economic assessment of four ecosystem services for natural capital accounting in Italy," Ecosystem Services, Elsevier, vol. 46(C).
    11. Hahn, Thomas & Sioen, Giles B. & Gasparatos, Alexandros & Elmqvist, Thomas & Brondizio, Eduardo & Gómez-Baggethun, Erik & Folke, Carl & Setiawati, Martiwi Diah & Atmaja, Tri & Arini, Enggar Yustisi & , 2023. "Insurance value of biodiversity in the Anthropocene is the full resilience value," Ecological Economics, Elsevier, vol. 208(C).
    12. Vári, Ágnes & Adamescu, Cristian Mihai & Balzan, Mario & Gocheva, Kremena & Götzl, Martin & Grunewald, Karsten & Inácio, Miguel & Linder, Madli & Obiang-Ndong, Grégory & Pereira, Paulo & Santos-Martin, 2024. "National mapping and assessment of ecosystem services projects in Europe – Participants’ experiences, state of the art and lessons learned," Ecosystem Services, Elsevier, vol. 65(C).
    13. Merida, Vincent Elijiah & Cook, David & Ögmundarson, Ólafur & Davíðsdóttir, Brynhildur, 2022. "Ecosystem services and disservices of meat and dairy production: A systematic literature review," Ecosystem Services, Elsevier, vol. 58(C).
    14. Campos, Pablo & Oviedo, José L. & Álvarez, Alejandro & Ovando, Paola & Mesa, Bruno & Caparrós, Alejandro, 2020. "Measuring environmental incomes beyond standard national and ecosystem accounting frameworks: testing and comparing the agroforestry Accounting System in a holm oak dehesa case study in Andalusia-Spai," Land Use Policy, Elsevier, vol. 99(C).
    15. Villamayor-Tomas, Sergio & Sagebiel, Julian & Rommel, Jens & Olschewski, Roland, 2021. "Types of collective action problems and farmers’ willingness to accept agri-environmental schemes in Switzerland," Ecosystem Services, Elsevier, vol. 50(C).
    16. Meya, Jasper N. & Drupp, Moritz A. & Hanley, Nick, 2021. "Testing structural benefit transfer: The role of income inequality," Resource and Energy Economics, Elsevier, vol. 64(C).
    17. David Aubin & Frédéric Varone, 2013. "Getting Access to Water: Property Rights or Public Policy Strategies?," Environment and Planning C, , vol. 31(1), pages 154-167, February.
    18. Bordt, Michael, 2018. "Discourses in Ecosystem Accounting: A Survey of the Expert Community," Ecological Economics, Elsevier, vol. 144(C), pages 82-99.
    19. Frikkie Maré & Bennie Grové & Johan Willemse, 2017. "Evaluating the long-term effectiveness of crop insurance products to provide cost effective and constant cover for maize producers under stochastic yields and prices," Agrekon, Taylor & Francis Journals, vol. 56(3), pages 233-247, July.
    20. Elisa Gatto & Alba Marino & Guido Signorino, 2013. "Biodiversity and risk management in agriculture: what do we learn from CAP reforms? A farm-level analysis," ERSA conference papers ersa13p805, European Regional Science Association.

    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:eee:ecoser:v:66:y:2024:i:c:s2212041624000081. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/ecosystem-services .

    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.