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A Value for the Non-Valued: Valuation of Ecosystem Resources

A Value for the Non-Valued: Valuation of Ecosystem Resources
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Author(s): Kappina Kasturige Kamani Sylva (University of Peradeniya, Sri Lanka)
Copyright: 2020
Pages: 22
Source title: Advanced Integrated Approaches to Environmental Economics and Policy: Emerging Research and Opportunities
Source Author(s)/Editor(s): Sebastiano Patti (University of Catania, Italy) and Giampiero Trizzino (Regional Council of Environment and Territory, Italy)
DOI: 10.4018/978-1-5225-9562-5.ch003

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Abstract

The ecosystem has its intrinsic value while offering an extrinsic satisfaction to humans. Ecosystem resources are devalued in the economic valuing process when a monetary value is difficult in assigning to the ‘non-use' effects of the separated functions of the ecosystem. There is a tendency to forego the value of the ecosystem, the bequest or existence values, although it offers some utility of satisfaction. This trade-off decision leads to detrimental effects on the survival of organisms. The chapter allows the decision-maker to identify the non-use ecosystem resources with an ‘off-trade' value for the production process through Reflective Analysis, systems theory and feed-in indicators. The off-trade decision would enable the sustainability of organisms in the ecological system with their interwoven functions intact and not exposed to bargaining as separated parts. As a result, it would help the regeneration of the valued resources for economic valuing process.

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