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A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef

Stoeckl, Natalie, Farr, Marina, Larson, Silva, Adams, Vanessa, Kubiszewski, Ida, Esparon, Michelle and Costanza, Robert (2014). A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef. Ecosystem Services: science, policy and pratice,10:61-78.

Document type: Journal Article
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IRMA ID 84473306xPUB79
Title A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef
Author Stoeckl, Natalie
Farr, Marina
Larson, Silva
Adams, Vanessa
Kubiszewski, Ida
Esparon, Michelle
Costanza, Robert
Journal Name Ecosystem Services: science, policy and pratice
Publication Date 2014
Volume Number 10
ISSN 2212-0416   (check CDU catalogue open catalogue search in new window)
Start Page 61
End Page 78
Total Pages 178
Place of Publication Netherlands
Publisher Elsevier BV
HERDC Category C1 - Journal Article (DIISR)
Abstract Estimating the value of entire ecosystems in monetary units is difficult because they are complex systems composed of non-linear, interdependent components and the value of the services they produce are interdependent and overlapping. Using the Great Barrier Reef (GBR) as a case study, this paper explores a new ‘whole ecosystem’ approach to assessing both the importance (to overall quality of life) and the monetary value of various community-defined benefits, some of which align with various ecosystem services. We find that provisioning services are considered, by residents, to be less important to their overall quality of life than other ecosystem services. But our analysis suggests that many community-defined benefits are overlapping. Using statistical techniques to identify and control for these overlapping benefits, we estimate that the collective monetary value of a broad range of services provided by the GBR is likely to be between $15 billion and $20 billion AUS per annum. We acknowledge the limitations of our methods and estimates but show how they highlight the importance of the problem, and open up promising avenues for further research. With further refinement and development, radically different ‘whole ecosystem’ valuation approaches like these may eventually become viable alternatives to the more common additive approaches.
Keywords Great Barrier Reef
Ecosystem services
Economic valuation
Total economic value
DOI http://dx.doi.org/10.1016/j.ecoser.2014.09.005   (check subscription with CDU E-Gateway service for CDU Staff and Students  check subscription with CDU E-Gateway in new window)
 
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