A review of non-market valuation studies of threatened species and ecological communities

Ram Pandit, Vandana Subroy, Stephen Garnett, Kerstin Zander, David Pannell

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    Abstract

    Literature on non-market valuation (NMV) of threated species and threatened ecologicalcommunities was collated and reviewed. We reviewed 76 papers, of which seven werefrom Australia. There is strong evidence that the broader community does support and iswilling to pay for protection and recovery of threatened species. In many cases, theestimated non-market values far exceed the expenditure that would be required toprotect or recover the species. However, there are significant gaps in the literature,particularly for threatened reptiles, plants, insects and non-charismatic species. There areno NMV studies of threatened ecological communities. We identify cases where evidenceabout non-market values has had a notable impact on the management or funding ofthreatened species. There are many such cases. However, overall utilisation of NMVs indecision making about threatened species is low and there is great potential for benefits ifits utilisation is increased. Barriers inhibiting such an increase include lack of awareness ofeconomics in relevant organisations, lack of existing economics capacity in thoseorganisations, the limited volume of existing evidence about NMVs for threatened speciesand ecological communities, and a lack of time and resources to undertake economicanalysis. We make suggestions for future directions for research and capacity-building. 
    Original languageEnglish
    PublisherNational Environmental Science Programme
    Number of pages38
    Publication statusPublished - 1 Dec 2015

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    Pandit, R., Subroy, V., Garnett, S., Zander, K., & Pannell, D. (2015). A review of non-market valuation studies of threatened species and ecological communities. National Environmental Science Programme.