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SPECIAL ISSUE: The Dynamics and Value of Ecosystem Services: Integrating Economic and Ecological Perspectives

By Murray G. Patterson


Ecological pricing theory and method is reviewed, and then applied to the valuation of biosphere processes and services. Ecological pricing values biosphere processes, on the basis of biophysical interdependencies between all parts of the ecosystem, not just those that have direct or obvious value to humans. The application of the ecological pricing method to the biosphere for 1994, indicates that the total value of primary ecological inputs (services) to be nearly $US 25 trillion. This compares with $US 33 trillion obtained in the Costanza et al. (1997) study. Our analysis also indicated a good correspondence between the shadow ecological price and the observed market price for al

Topics: Valuation, Biosphere, Ecological prices, Biophysical models 1. Biophysical basis to ecological pricing Ecological
Year: 2011
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