A new approach to the problem of overlapping values

A case study in Australia's Great Barrier Reef

Natalie Stoeckl, Marina Farr, Silva Larson, Vanessa Adams, Ida Kubiszewski, Michelle Esparon, Robert Costanza

    Research output: Contribution to journalArticleResearchpeer-review

    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.
    Original languageEnglish
    Pages (from-to)61-78
    Number of pages18
    JournalEcosystem Services
    Volume10
    DOIs
    Publication statusPublished - Dec 2014

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    Cite this

    Stoeckl, N., Farr, M., Larson, S., Adams, V., Kubiszewski, I., Esparon, M., & Costanza, R. (2014). A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef. Ecosystem Services, 10, 61-78. https://doi.org/10.1016/j.ecoser.2014.09.005
    Stoeckl, Natalie ; Farr, Marina ; Larson, Silva ; Adams, Vanessa ; Kubiszewski, Ida ; Esparon, Michelle ; Costanza, Robert. / A new approach to the problem of overlapping values : A case study in Australia's Great Barrier Reef. In: Ecosystem Services. 2014 ; Vol. 10. pp. 61-78.
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    title = "A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef",
    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.",
    author = "Natalie Stoeckl and Marina Farr and Silva Larson and Vanessa Adams and Ida Kubiszewski and Michelle Esparon and Robert Costanza",
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    Stoeckl, N, Farr, M, Larson, S, Adams, V, Kubiszewski, I, Esparon, M & Costanza, R 2014, 'A new approach to the problem of overlapping values: A case study in Australia's Great Barrier Reef', Ecosystem Services, vol. 10, pp. 61-78. https://doi.org/10.1016/j.ecoser.2014.09.005

    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; Costanza, Robert.

    In: Ecosystem Services, Vol. 10, 12.2014, p. 61-78.

    Research output: Contribution to journalArticleResearchpeer-review

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    T2 - A case study in Australia's Great Barrier Reef

    AU - Stoeckl, Natalie

    AU - Farr, Marina

    AU - Larson, Silva

    AU - Adams, Vanessa

    AU - Kubiszewski, Ida

    AU - Esparon, Michelle

    AU - Costanza, Robert

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    AB - 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.

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