A review of non-market valuation studies of threatened species and ecological communities

Ram Pandit, Vandana Subroy, Stephen Garnett, Kerstin Zander, David James Pannell

    Research output: Book/ReportOther output

    Abstract

    Literature on non-market valuation (NMV) of threated species and threatened ecological communities was collated and reviewed. We reviewed 76 papers, of which seven were from Australia. There is strong evidence that the broader community does support and is willing to pay for protection and recovery of threatened species. In many cases, the estimated non-market values far exceed the expenditure that would be required to protect or recover the species. However, there are significant gaps in the literature, particularly for threatened reptiles, plants, insects and non-charismatic species. There are no NMV studies of threatened ecological communities. We identify cases where evidence about non-market values has had a notable impact on the management or funding of threatened species. There are many such cases. However, overall utilisation of NMVs in decision making about threatened species is low and there is great potential for benefits if its utilisation is increased. Barriers inhibiting such an increase include lack of awareness of economics in relevant organisations, lack of existing economics capacity in those organisations, the limited volume of existing evidence about NMVs for threatened species and ecological communities, and a lack of time and resources to undertake economic analysis. We make suggestions for future directions for research and capacity-building.
    Original languageEnglish
    Place of PublicationAustralia
    PublisherNational Environmental Science Programme
    Commissioning bodyNational Environmental Science Programme, Department of Environment
    Number of pages40
    Publication statusPublished - 18 Dec 2015

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    valuation
    capacity building
    economic analysis
    ecological community
    reptile
    economics
    expenditure
    decision making
    insect
    resource

    Cite this

    Pandit, R., Subroy, V., Garnett, S., Zander, K., & Pannell, D. J. (2015). A review of non-market valuation studies of threatened species and ecological communities. Australia: National Environmental Science Programme.
    Pandit, Ram ; Subroy, Vandana ; Garnett, Stephen ; Zander, Kerstin ; Pannell, David James. / A review of non-market valuation studies of threatened species and ecological communities. Australia : National Environmental Science Programme, 2015. 40 p.
    @book{fe892ce40aaf4fdda39583a5aae9f91c,
    title = "A review of non-market valuation studies of threatened species and ecological communities",
    abstract = "Literature on non-market valuation (NMV) of threated species and threatened ecological communities was collated and reviewed. We reviewed 76 papers, of which seven were from Australia. There is strong evidence that the broader community does support and is willing to pay for protection and recovery of threatened species. In many cases, the estimated non-market values far exceed the expenditure that would be required to protect or recover the species. However, there are significant gaps in the literature, particularly for threatened reptiles, plants, insects and non-charismatic species. There are no NMV studies of threatened ecological communities. We identify cases where evidence about non-market values has had a notable impact on the management or funding of threatened species. There are many such cases. However, overall utilisation of NMVs in decision making about threatened species is low and there is great potential for benefits if its utilisation is increased. Barriers inhibiting such an increase include lack of awareness of economics in relevant organisations, lack of existing economics capacity in those organisations, the limited volume of existing evidence about NMVs for threatened species and ecological communities, and a lack of time and resources to undertake economic analysis. We make suggestions for future directions for research and capacity-building.",
    author = "Ram Pandit and Vandana Subroy and Stephen Garnett and Kerstin Zander and Pannell, {David James}",
    year = "2015",
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    Pandit, R, Subroy, V, Garnett, S, Zander, K & Pannell, DJ 2015, A review of non-market valuation studies of threatened species and ecological communities. National Environmental Science Programme, Australia.

    A review of non-market valuation studies of threatened species and ecological communities. / Pandit, Ram; Subroy, Vandana; Garnett, Stephen; Zander, Kerstin; Pannell, David James.

    Australia : National Environmental Science Programme, 2015. 40 p.

    Research output: Book/ReportOther output

    TY - BOOK

    T1 - A review of non-market valuation studies of threatened species and ecological communities

    AU - Pandit, Ram

    AU - Subroy, Vandana

    AU - Garnett, Stephen

    AU - Zander, Kerstin

    AU - Pannell, David James

    PY - 2015/12/18

    Y1 - 2015/12/18

    N2 - Literature on non-market valuation (NMV) of threated species and threatened ecological communities was collated and reviewed. We reviewed 76 papers, of which seven were from Australia. There is strong evidence that the broader community does support and is willing to pay for protection and recovery of threatened species. In many cases, the estimated non-market values far exceed the expenditure that would be required to protect or recover the species. However, there are significant gaps in the literature, particularly for threatened reptiles, plants, insects and non-charismatic species. There are no NMV studies of threatened ecological communities. We identify cases where evidence about non-market values has had a notable impact on the management or funding of threatened species. There are many such cases. However, overall utilisation of NMVs in decision making about threatened species is low and there is great potential for benefits if its utilisation is increased. Barriers inhibiting such an increase include lack of awareness of economics in relevant organisations, lack of existing economics capacity in those organisations, the limited volume of existing evidence about NMVs for threatened species and ecological communities, and a lack of time and resources to undertake economic analysis. We make suggestions for future directions for research and capacity-building.

    AB - Literature on non-market valuation (NMV) of threated species and threatened ecological communities was collated and reviewed. We reviewed 76 papers, of which seven were from Australia. There is strong evidence that the broader community does support and is willing to pay for protection and recovery of threatened species. In many cases, the estimated non-market values far exceed the expenditure that would be required to protect or recover the species. However, there are significant gaps in the literature, particularly for threatened reptiles, plants, insects and non-charismatic species. There are no NMV studies of threatened ecological communities. We identify cases where evidence about non-market values has had a notable impact on the management or funding of threatened species. There are many such cases. However, overall utilisation of NMVs in decision making about threatened species is low and there is great potential for benefits if its utilisation is increased. Barriers inhibiting such an increase include lack of awareness of economics in relevant organisations, lack of existing economics capacity in those organisations, the limited volume of existing evidence about NMVs for threatened species and ecological communities, and a lack of time and resources to undertake economic analysis. We make suggestions for future directions for research and capacity-building.

    UR - http://www.nespthreatenedspecies.edu.au/151214_NMV%20Threatened%20Species%20Report_full.compressed.pdf

    M3 - Other output

    BT - A review of non-market valuation studies of threatened species and ecological communities

    PB - National Environmental Science Programme

    CY - Australia

    ER -

    Pandit R, Subroy V, Garnett S, Zander K, Pannell DJ. A review of non-market valuation studies of threatened species and ecological communities. Australia: National Environmental Science Programme, 2015. 40 p.