Valuing Ecosystem Services in Semi‐arid Rangelands through Stochastic Simulation

Valuing Ecosystem Services

We develop the economist’s concept of value as opportunity cost and discuss the ways in which decisions imply values through revealed preference. We distinguish between the ideas of incremental and total value and argue that only the former is of importance in practical decision-making. The relationship between price and value is articulated and related to the distinction between public and pri...

Ecosystem Services and Western U .S . Rangelands

Rangelands are expansive, unimproved lands located in arid or semi–arid regions, spanning a variety of landscapes including savannahs, high and low altitude deserts, mountain meadows, and tundra. Rangelands are generally unsuitable for crop production due to aridity, topography, and extreme temperatures. Rangelands support varying mixtures of native and nonnative grasses, grass–like plants, for...

Valuing Ecosystem Services with Fishery Rents:

Valuing ecosystem services with microeconomic underpinnings presents challenges because these services typically constitute nonmarket values and contribute to human welfare indirectly through a series of ecological pathways that are dynamic, nonlinear, and difficult to quantify and link to appropriate economic spatial and temporal scales. This paper develops and demonstrates a method to value a...

Rangelands in Arid Ecosystem

Valuing ecosystem services fromwetlands restoration in theMississippi Alluvial Valley

Valuing ecosystem services fromwetlands restoration in theMississippi Alluvial Valley W. Aaron Jenkins ⁎, Brian C. Murray , Randall A. Kramer , Stephen P. Faulkner c a Nicholas Institute for Environmental Policy Solutions, Duke University, Box 90335, Durham, NC 27708-0328, USA b Nicholas School of the Environment, Duke University, Box 90328, Durham, NC 27708-0328, USA c U.S. Geological Survey, ...