Tuesday, September 25, 2012

Reading on valuation & Caribbean applications

Here is a short policy perspective that summarizes the main points of this report.

The report is fairly lengthy. The first 16 pages provide an overview of economic value and valuation methods. The remainder is a summary of marine resource valuation work in the Caribbean and recommendations for future work.  Please let me know if you find any typos (I'm sure there are a few), as I am working on the final version of the report.


Alan Sestito said...

Just by looking at the facts stated in the Policy Perspective, it is shocking that policy makers still don't incorporate the concept of valuation when deciding what is best for the community. If entire markets rely on natural resources, it is only logical to figure out what it is worth, and how harming/removing it will effect the economy. This brings me to the assumption that policy makers are looking for quick, short-term fixes to problems instead of looking at the big picture.

Catherine Mauch said...

In order to maximize consumer and producer surpluses the true worth of a product needs to be realized and accounted for. By doing an economic valuation of ecosystem services the true costs of development can be acknowledged. This related 2008 Science Daily article (http://www.sciencedaily.com/releases/2008/08/080805074603.htm) emphasizes that ecosystem services "engage a wide variety of stakeholders," this is an important aspect to not forget. Hopefully in the upcoming years evaluating ecosystems will be considered a first priority in policy making.

Mary Gigliotti said...


This is an interesting article on the on the Grand Canyon and the possibility of opening it up for mining and drilling. This is an example of looking at a short term gain instead of realizing all of the nonuse values of the Grand Canyon. If passed, an economic valuation will be critical in determining whether the Grand Canyon is leased to drilling and mining companies.