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 M., 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, 10 61-78. doi:10.1016/j.ecoser.2014.09.005


Author Stoeckl, Natalie
Farr, Marina
Larson, Silva
Adams, Vanessa M.
Kubiszewski, Ida
Esparon, Michelle
Costanza, Robert
Title A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef
Journal name Ecosystem Services   Check publisher's open access policy
ISSN 2212-0416
Publication date 2014-12-01
Year available 2014
Sub-type Article (original research)
DOI 10.1016/j.ecoser.2014.09.005
Open Access Status Not yet assessed
Volume 10
Start page 61
End page 78
Total pages 18
Place of publication Amsterdam, Netherlands
Publisher Elsevier
Language eng
Formatted 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.
Keyword Economic valuation
Ecosystem services
Great Barrier Reef
Total economic value
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Article (original research)
Collection: School of Biological Sciences Publications
 
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