Economic Valuation References

References compiled at WRI for the ICRI AD Hoc Committee on Economic Valuation


ICRI interest in economic valuation of coral reefs was formalized at the ICRI General Meeting held in Washington, DC in January 2008 through the creation of an Ad Hoc Committee on Economic Valuation of Coral Reef Ecosystems, with the US-Mexico Secretariat and the World Resources Institute (WRI) as co-chairs (Terms of reference of the Ad Hoc Committee). A key responsibility of the committee is the compilation of background resources, economic valuation methodologies, and applications as a reference for ICRI members interested in economic valuation of coral reefs.


In early February 2008, WRI sent a short questionnaire to Ad Hoc Committee members, other ICRI partners, and several other experts on coral reef valuation. The effort focused on identifying the most useful background materials and references on economic valuation, with and emphasis on coral reefs. Information was gathered on books, papers and websites that provide background on conducting an economic valuation; economic valuation methodologies and training materials; databases that provide summaries of ecosystem valuations (for coral reefs as well as other ecosystems); and references for economic valuation applications. In addition, the questionnaire requested examples of economic valuation applications that have resulted in tangible outcomes.


The following pages provide a summary of the references and resources compiled under this effort as of June 20, 2008.

Please click on the links below to find the appropriate section:


The reference list was compiled by:

With input from:


Books on Economic Valuation

  • Arrow, K.J., I.J. Bateman, and Willis. 2002. "Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, EU, and Developing Countries."
  • Bateman, I. et al. 2002. "Economic Valuation with Stated Preference Techniques: A Manual." Edward Elgar. Online here.
  • Cesar, J. 2000. "Collected Essays on the Economics of Coral Reefs." Kalmar, Sweden: CORDIO, Department for Biology and Environmental Sciences, Kalmar University.
  • Freeman, A.M. 1993. "The measurement of environmental and resource values: theory and methods." Resources for the Future.
  • Garrod, G. and K.G. Willis. 1999. "Economic Valuation of the Environment: Methods and Case Studies." Edward Elgar.
  • Le Quesne, T. and R. McNally. n.d. "The Green Buck: Using economic tools to deliver conservation goals: a WWF field guide." United Kingdom: World Wildlife Foundation. Online here.
  • Mäler, K.G. and J. Vincent, eds. 2005. "Handbook of Environmental Economics, Volume 2: Valuing Environmental Changes." Elsevier.
  • Munasinghe, M. (ed). 2003. "Environmental economics and natural resource management in developing countries," pp. 17-71. Washington, DC: World Bank for the Committee of International Development Institutions on the Environment (CIDIE).
  • Pearce, D.W. and D. Moran. 1994. "The Economic Value of Biodiversity." London: Earthscan Publications.
  • Rietbetgen-McCracken, J. and H. Abaza. 2000. "Environmental Valuation: A Worldwide Compendium of Case Studies." London: United Nations Environment Programme and Earthscan Publications.
  • van Beukering, P., L. Brander, E. Tompkins, and E. McKenzie. 2007. "Valuing the Environment in Small Islands - An Environmental Economics Toolkit." United Kingdom: Joint Nature Conservation Committee (JNCC). Online here.
  • Weigel, J.-Y., F. Feral, and B. Cazalet. 2007. "Les aires marines protégées d'Afrique de l'Ouest - Gouvernance et politiques publiques." Perpignan, France: Presses Universitaires de Perpignan.
  • Winpenny, J.T. 1991. "Values for the Environment: A Guide to Economic Appraisal." London: HMSO Press.

Background Articles on Economic Valuation

  • Balmford, A., A. Bruner, P. Cooper, R. Costanza, S. Farber, R. Green, M. Jenkins, P. Jefferiss, V. Jessamy, J. Madden, K. Munro, N. Myers, S. Naeem, J. Paavola, M. Rayment, A. Rosendo, J. Roughgarden, K. Trumper, and R. Turner. 2002. "Economic Reasons for Conserving Wild Nature." Science 297: 950-953.
  • Bateman, I. J., B.H. Day, S. Georgiou and I. Lake. 2006. "The aggregation of environmental benefit values: Welfare measures, distance decay and total WTP." Ecological Economics 60 (2): 450-460.
  • Bockstael, N.E., A.M. Freeman, III, R.J. Kopp, P.R. Portney, and V.K. Smith. 2000. "On Measuring Economic Values for Nature." Environmental Science and Technology 34: 1384-1389.
  • Costanza, R., R. d'Arge, R. de Groot, S. Farber, M. Grasso, B. Hannon, K. Limburg, S. Naeem, R. O'Neill, J. Paruelo, R. Raskin, P. Sutton, and M. van den Belt. 1997. "The Value of the World's Ecosystem Services and Natural Capital." Nature 387: 253-260.
  • Daily, G. et al. 2000. "The Value of Nature and the Nature of Value." Science 289: 395-396.
  • Depondt, F., and E. Green. 2006. "Diving user fees and the financial sustainability of marine protected areas: Opportunities and impediments." Ocean & Coastal Management 49: 188.
  • Dixon, J.A. 1993. "Economic benefits of marine protected areas." Oceanus (Fall): 35-40.
  • Farber, S.C., R. Costanza, and M.A. Wilson. 2002. "Economic and ecological concepts for valuing ecosystem services." Ecological Economics 41: 375-392.
  • Jin, D., P. Hoagland, and T.M. Dalton. 2003. "Linking economics and ecological models for a marine ecosystem." Ecological Economics, Elsevier 46: 367-385. Online here.
  • Mardle, S., H. Glenn, and P. Wattage. 2006. "Socio-economic evaluation: a review." In "Review of Marine Protected Areas as a Tool for Ecosystem Conservation and Fisheries Management." PROTECT, World Package 2, February 2006, pp. 114-125.
  • Mathis, Fawcett, and Konda. 2003. "Valuing Nature: a survey of the non-market valuation literature." Houston Advanced Research Center, prepared for the State of Texas. Online here.
  • Molberg, F. and C. Folke. 1999. "Ecological goods and services of coral reef ecosystems." Ecological Economics 29 (2): 215-233.
  • Munasinghe, M. and E. Lutz. 1993. "Environment economics and valuation in development decision-making." Washington, DC: The World Bank, Environment Working Paper No. 51.
  • Pagiola, S. 2004. "How much is an ecosystem worth?" The International Bank for Reconstruction and Development/The World Bank, Washington, DC, June 2004.
  • Pagiola, S., K. von Ritter, and J. Bishop. 2004. "Assessing the Economic Value of Ecosystem Conservation." The World Bank in collaboration with IUCN. Online here.
  • Sanchirico, J.N. and J.E. Wilen. 2001. "A Bioeconomic Model of Marine Reserve Creation." Journal of Environmental Economics and Management 42 (3): 257-276.
  • Spurgeon, J. 2006. "Time for a third-generation economics-based approach to coral management." I. Cote and J. Reynolds, eds. "Coral Reef Conservation." 362-390. London: Cambridge University Press.
  • Spurgeon, J. 2001. "Valuation of Coral Reefs: The Next Ten Years." Paper presented at "Economic Valuation and Policy Priorities for Sustainable Management of Coral Reefs," an International Consultative Workshop. Organized by ICLARM (now WorldFish Center), in Penang, Malaysia.
  • Spurgeon, J. 1992. "Economic Valuation of Coral Reefs." Marine Pollution Bulletin 24 (11): 529-536.
  • Steiner A., S. McCormick, and I. Johnson. 2004. "How much is an ecosystem worth? Assessing the economic value of conservation." IUCN, the Nature Conservancy, the World Bank, October 2004, 33 p.
  • UK Environment Agency. 2004. "Overall Benefits of the Environment Programme for the Periodic Review of the Water Industry (PR04)." Online here.
  • UNEP. 2006. "Marine and coastal ecosystems and human well-being: A synthesis report based on the findings of the Millennium Ecosystem Assessment."
  • UNEP-WCMC. 2006. "In the front line: shoreline protection and other ecosystem services from mangroves and coral reefs." Cambridge, UK: UNEP-WCMC.
  • U.S. Department of Commerce, National Ocean and Atmospheric Administration. 2006. "Socioeconomic Research and Monitoring Program in Florida Keys National Marine Sanctuary: Recreation/Tourism in the Florida Keys: A 10-year Replication." OMB CONTROL No. 0648. Silver Spring, MD: U.S. Department of Commerce, National Ocean and Atmospheric Administration.

Websites Related to Ecosystem Valuation

  • Biodiversity Economics: Sponsored by the World Conservation Union (IUCN) and WWF, promotes economic approaches to conservation by sharing documents, contacts and information about upcoming events. Users may join the practitioner database and submit publications.
  • Coral Reef Economics Community of Practice: Connects experts and practitioners in coral reef valuation and conservation. Includes technical papers, published journal articles, and examples of successful data collection methods. Users can share draft workplans, surveys, and data for review and discussion.
  • Ecosystem Valuation: This website describes how economists value the beneficial ways that ecosystems affect people - ecosystem valuation. It is designed for non-economists who need answers to questions about the benefits of ecosystem conservation, preservation or restoration. It provides a clear, non-technical explanation of ecosystem valuation concepts, methods and applications.
  • The Environmental Valuation and Cost Benefit Website: News and methods focusing on cost benefit analysis.
  • Environmental Economics Blog: The Environmental Economics blog is dedicated to the dissemination of economists' views on current environmental and natural resource issues. We hope this blog will help bring economists' views on environmental issues further into the mainstream. The intended audience includes the general public and students. Posts are non-technical.
  • The Gund Institute: Ongoing research is focused on several broad areas of fundamental concern. These include the application of science in economic decision-making; the intrinsic value of ecosystems and the services they provide; integrated community participation in economic design and development; and the development of accurate measurements of system health and sustainability.
  • Healthy Reefs for Healthy People: This initiative is an international, multi-institutional effort that tracks the health of the Mesoamerican Reef, the human choices that shape it and our progress in ensuring its long-term integrity.
  • The Katoomba Group's Ecosystem Marketplace: This site seeks to become the world's leading source of information on markets and payment schemes for ecosystem services; services such as water quality, carbon sequestration and biodiversity.
  • Manual to Assess the Benefits of Surface Water Quality Improvements: Provides water industry and regulatory agency staff with a means to evaluate the benefits arising from improvements in surface water quality, using a social cost-benefit analysis of quality improvement schemes in rivers, estuaries or coastal waters. Within this overall framework, the Manual provides guidelines for assessing the value of benefits in economic terms.
  • Millennium Ecosystem Assessment: Initiated in 2001, the objective of the MA was to assess the consequences of ecosystem change for human well-being and the scientific basis for action needed to enhance the conservation and sustainable use of those systems. Their findings provide a scientific appraisal of the condition and trends in the world's ecosystems and the services they provide, and the options to restore, conserve or enhance the sustainable use of ecosystems.
  • NOAA's Coastal and Ocean Resource Economics (CORE) Program: This program conducts marine-related socioeconomic research for a wide variety of applications and geographic areas. CORE projects include state-of-the-art socioeconomic monitoring in the Florida Keys National Marine Sanctuary, the first-ever nationwide estimate of participation rates in marine-related recreation activities, an extensive beach valuation effort in Southern California, and many other research activities.
  • NOAA Coastal Services Center summary on valuation: Includes a summary on valuation methods, social and economic impacts, risk and uncertainty, sustainability, an annotated bibliography, and other related topics.
  • National Ocean Economics Program (NOEP): Established in 1999, NOEP provides a full range of the most current economic and socio-economic information available on changes and trends along the U.S. coast and in coastal waters. The program is funded by federal, state, university, and private grants and contracts.
  • ReefBase: A project by the WorldFish Center, a global information system for coral reefs, with many publications online. Mission is to improve sharing and use of data, information, and knowledge in support of research and management of coral reef resources.
  • Reef Resilience: Information about building resilience into coral reef management strategies.
  • UK Environment Agency, Benefits assessment guidance for water quality and water resources schemes: A set of guidance for Agency staff and water company planners, covering both water quality improvements and water resource management issues, and providing a means of evaluating the environmental and social costs and benefits.
  • World Bank Environmental Economics and Indicators: The Bank's mission includes a requirement for sustainable development, which makes the environment an integral part of the development challenge. This demands that special attention must be paid to how the environment links poverty, economics, and people. The Bank can assist countries to understand the linkages between poverty and the environment, mainstream the environment into country programs, and measure progress through environmental indicators.
  • World Resources Institute, Economic Valuation of Coral Reefs in the Caribbean website: WRI's project seeks to support the sustainable management of coral reefs and mangroves by quantifying their economic value. Also includes links to WRI's valuation methodology, WRI's acclaimed Reefs at Risk series, and watershed-based analyses of threats to coral reefs.

Economic Valuation Methodologies and Training Materials

  • Ahmed, M et al. 2004. “Economic Valuation and Policy Priorities for Sustainable management of coral reefs.” WorldFish Centre Conference Proceedings 70.
  • Barbier, E., M. Acreman, and D. Knowler. 1997. “Economic Valuation of Wetlands: a Guide for Policy Makers and Planners.” Gland, Switzerland: Ramsar Convention Bureau.
  • Bann, C. 1998. “The Economic Valuation of Mangroves: A Manual for Researchers.” Ottawa, Canada: EEPSEA Special Paper, International Development Research Centre.
  • Bateman, I.J., et al. 2002. “Economic Valuation with Stated Preference Techniques: A Manual.” Northampton, MA: Edward Elgar Publishing.
  • Briones, N.D. 2002. “Economic Valuation and Assessment of Aquatic Resources.” University of the Philippines Open University.
  • Champ, P.A., K.J. Boyle and T.C. Brown (eds.), I. J. Bateman (series ed.). 2003. “The Economics of Non-Market Goods and Resources: A Primer on Nonmarket Valuation.” Boston, MA: Kluwer Academic Publishers.
  • Chan, K.M.A., M.R. Shaw, D.R. Cameron, E.C. Underwood, and G.C. Daily. 2006. “Conservation planning for ecosystem services.” PLoS Biol 4(11): e379. Online here.
  • McKenney, B. 2007. “Assessing Opportunities for Ecosystem Service-based Conservation Strategies.” The Nature Conservancy (internal document).
  • IUCN. 1998. “Economic Values of Protected Areas: Guidelines for Protected Area Managers.” Switzerland: IUCN.
  • James, R. 1991. “Wetland valuation: guidelines and techniques.” Bogor, Indonesia: Asian Wetland Bureau.
  • McPherson, M. 2006. “Baselines for The Nature Conservancy Meso-American Reef Program Platform Site Socioeconomic Modeling, Part 1: Report on key socioeconomic impact response indicator datasets, key trends, data gaps and local socioeconomic monitoring strategies.” The Nature Conservancy (draft).
  • McPherson M., and M. Gorrez. 2006. “Meso-American Reef Program Socio-Economic Dynamic Modeling: Training Module.” The Nature Conservancy (draft).
  • The Nature Conservancy Meso-American Reef programs includes methods for Rapid Reef Assessments. Online here.
  • The Nature Conservancy. Nature’s Investment Bank: How Marine Protected Areas Contribute to Poverty Reduction- The Nature Conservancy has worked with leading academics on a study that conclusively proves that marine protected areas (MPAs) can help alleviate poverty. Online here.
  • van Beukering, P., L. Brander, E. Tompkins, and E. McKenzie. 2007. “Valuing the Environment in Small Islands - An Environmental Economics Toolkit.” United Kingdom: Joint Nature Conservation Committee (JNCC). Online here.
  • Whitehead, J.C. 2000. “A Practitioner’s primer on Contingent Valuation.” East Carolina University. Online here.
  • World Resources Institute. 2007. “Economic Valuation of Coral Reefs: Methodology v2.1.” Online here.

Databases / Summaries of Coral Reef Valuations

  • Brander L., P. van Beukering, and H. Cesar. 2007. ”The recreational value of coral reefs: A meta-analysis.” Ecological Economics 63: 209-218.
  • Coral Reef Economics Community of Practice: Connects experts and practitioners in coral reef valuation and conservation. Includes technical papers, published journal articles, and examples of successful data collection methods. Users can share draft workplans, surveys, and data for review and discussion. Online here.
  • Coral Reef Valuation Summary Table from Hargreaves-Allen, V. 2004. “Estimating the Total Economic Value of Coral Reefs for Residents of Sampela, a Bajau Community in Wakatobi Marine National, Sulawesi. A Case Study.” Imperial College London, MSc thesis. See appendix, pp.106-112. Online here.
  • NOAA Coastal and Ocean Resource Economics: Annotated bibliography of all coral economic valuations done worldwide. Online here and here.

Databases / Summaries of Valuations for Other Ecosystems

  • Conservation International ValMap: A map-based database of factoids on economic valuations of ecosystem services from over 100 reports covering 40 countries since the year 2000, with a special focus on developing nations.
  • Environmental Valuation Reference Inventory Database: A searchable storehouse of empirical studies on the economic value of environmental benefits and human health effects. It has been developed as a tool to help policy analysts use the benefits transfer approach.
  • Envalue Environmental Valuation Database: A systematic collection of environmental valuation studies presented in an on-line database. Mission: to assist decision makers in government and industry as well as academics, consultants and environmental groups, to incorporate environmental values into cost-benefit analyses, environmental impact statements, project appraisals and overall valuation of changes in environmental quality.
  • Environmental Valuation and Cost-Benefit News: This news site covers legal, academic, and regulatory developments pertaining to the valuation of environmental amenities and disamenities. We share ways in which costs and benefits are measured, and the results of empirical studies. We hope that this information will allow public and private organizations to comprehend the risks and benefits of various actions, help disputants to resolve conflicts equitably and efficiently, and improve the quality of public policies.
  • Nature Valuation and Financing Network: Mission: to stimulate the development and exchange of practical tools and best practice for the valuation of ecosystem goods and services, so that decisions concerning economic development are made with full awareness and understanding of all the costs and benefits involved. Features: a publication database with download/upload capability, a case study database for identifying related case studies in the field, and discussion platforms.
  • Nature Valuation and Financing Network’s CaseBase: Interactive online case study database aimed at facilitating information exchange in ecosystem management for sustainable livelihoods.
  • National Ocean Economics Program: Provides a full range of the most current economic and socio-economic information available on changes and trends along the U.S. coast and in coastal waters. The program is funded by federal, state, university, and private grants and contracts.

Coral Reef Valuation Applications

  • Access Economics. 2005. “Measuring the economic and financial value of the Great Barrier Reef Marine Park 2004-2005.” Great Barrier Reef Marine Park Authority Research Publication 84. Online here.
  • Access Economics. 2007. “Measuring the economic and financial value of the Great Barrier Reef Marine Park 2005-2006.” Great Barrier Reef Marine Park Authority Research Publication 87. Online here.
  • Ahmed, M., C.K. Chong, and H. Cesar. 2004. “Economic Valuation and Policy Priorities for Sustainable Management of Coral Reefs.” Penang, Malaysia: WorldFish Center.
  • Ahmed, M., G. Umali, C. Chong, M. Rull, and M. Garcia. 2007. “Valuing recreational and conservation benefits of coral reefs – The case of Bolinao, Philippines.” Ocean and Coastal Management 50: 103-118.
  • Andersson, J.E.C. 2007. “The recreational cost of coral bleaching - A stated and revealed preference study of international tourists.” Ecological Economics 62: 704-715.
  • Arin, T. and R.A. Kramer. 2002. “Divers’ willingness to pay to visit marine sanctuaries: an exploratory study.” Ocean and Coastal Management 45: 171-183.
  • Barton, D.N. 1994. “Economic factors and evaluation of tropical coastal resources.” In “SMR-report 14:94.” Universitetet I Bergen, Senter for Miljø-og Resursstudier.
  • Bhat, M.G. 2003. “Application of Non-Market Valuation to the Florida Keys Marine Reserve Management.” Journal Environmental Management 67 (4): 315-325.
  • Brander, L.M., P. Van Beukering, and H.S.J. Cesar. 2007. “The recreational value of coral reefs: a meta-analysis.” Ecological Economics 63: 209-218.
  • Brown, K., W. Adger, E. Tompkins, P. Bacon, D. Shim, and K. Young. 2001. “Trade-off Analysis for Marine Protected Area Management.” Ecological Economics 37: 417-434.
  • Burke, L., and J. Maidens. 2004. “Reefs at Risk in the Caribbean.” Washington, DC: World Resources Institute, pp. 52-59. Online here.
  • Burke, L., E. Selig, and M. Spalding. 2002. “Reefs at Risk in Southeast Asia.” Washington, DC: World Resources Institute, pp. 53-56. Online here.
  • Carr, L. and R. Mendelsohn. 2003. “Valuing Coral Reefs: A Travel Cost Analysis of the Great Barrier Reef.” Ambio 32: 353-357. Online here.
  • Carter, D.W. 2003. “Protected areas in marine resource management: another look at the economics and research issues.” Ocean and Coastal Management 46 (5): 439-456.
  • Casey, J.F. 2006. “Are tourists willing to pay additional fees to protect corals in Mexico?” The Selected Works of James F. Casey. Online here.
  • Cesar Environmental Economics Consulting (funded by the National Oceanic and Atmospheric Administration through the Marine Laboratory of the University of Guam). 2007. “Economic Valuation of Coral Reefs and Adjacent Habitats in Guam.”
  • Cesar Environmental Economics Consulting (funded by the US Department of the Interior and National Oceanographic and Atmospheric Administration). 2006. “Economic Valuation of Coral Reefs and Adjacent Habitats in Commonwealth of the Northern Mariana Islands (CNMI).” Online here.
  • Cesar, H.S.J. and P. Van Beukering. 2004. “Economic Valuation of the Coral Reefs of Hawaii.” Pacific Science Vol. 58, No. 2: 231-242.
  • Cesar, H., L. Burke, and L. Pet-Soede. 2003. “The Economics of Worldwide Coral Reef Degradation.” Arnhem, The Netherlands: Cesar Environmental Economics Consulting. Online here.
  • Cesar H. et al. 2000. “Economic Valuation of an Integrated Terrestrial and Marine Protected Area: Jamaica's Portland Bright.” In: Cesar, H.S.J. (ed). 2000. “Collected Essays on the Economics of Coral Reefs.” CORDIO Department for Biology and Environmental Sciences, Kalmar University, Sweden.
  • Cesar, H. and C.K. Chong. 2004. “Economic Valuation and Socioeconomics of Coral Reefs: Methodological Issues and Three Case Studies.” pp. 14-40 in: M. Ahmed, C.K.
  • Chong and H. Cesar (eds). 2004. “Economic Valuation and Policy Priorities for Sustainable Management of Coral Reefs.” WorldFish Center Conference Proceedings 70, 222 p.
  • Cesar, H. 2002. “The biodiversity benefits of coral reef ecosystems: Values and markets.” Working Party on Global and Structural Policies Working Group on Economic Aspects of Biodiversity, OECD, Paris.
  • Cesar, H. 2002. “Economic valuation, economic instruments and property rights: coral reefs in Southeast Asia.” Fourth International Conference on Property Rights, Economics and the Environment. Aix-en-Provence, France, June 26-29, 2002, 13 p.
  • Costanza, R., S.C. Farber and J. Maxwell. 1989. “Valuation and management of wetland ecosystems.” Ecological Economics 1: 335-361.
  • Dixon, J., L. Scura, T. van’t Hof. 1993. “Ecology and microeconomics as ‘Joint Products’: The Bonaire Marine Park in the Caribbean.” World Bank, LATEN Dissemination Note #6.
  • Driml, S. 1999. “Economic impacts of activities on the Great Barrier Reef.” Great Barrier Reef Marine Park Authority Research Report 7. Online here.
  • Furst et al. 2000. “Chapter 11: Total Costs and Benefits of Reef Conservation in the Bonaire Marine Park, in the Netherlands Antilles.” In Rietbergen-McCracken, J. and H. Abaza (eds). 2000. “Environmental Valuation: A Worldwide Compendium of Case Studies.” London: Earthscan.
  • Gjertsen, H. 2005. “Can Habitat Protection Lead to Improvements in Human Well-Being? Evidence from Marine Protected Areas in the Philippines.” World Development 33 (2): 199-217.
  • Hand, T. 2003. “An economic and social evaluation of implementing the representative areas program by rezoning the Great Barrier Reef Marine Park.” Report on the Revised zoning plan. Delivered to Australian Parliament.
  • Hundloe et al. 1987. “Willingness to Pay Survey of the Great Barrier Reef.”
  • Hazen and Sawyer Environmental Engineers and Scientists. 2004. “Socioeconomic Study of Reefs in Martin County, Florida.” Online here.
  • Israel, J. 2004. “Impact of Visitor Spending and Park Operations on the Regional Economy: Virgin Islands National Park.” Prepared for the Friends of the Virgin Islands National Park.
  • Johns, G.M., V.R. Leeworthy, F.W. Bell, and M.A. Bonn. 2003. “Socioeconomic Study of Reefs in Southeast Florida.” Online here.
  • Khanh Nam, P. and T.V. Hung Son, 2004. “Recreational Value of the Coral Surrounding the Hon Mun Islands in Vietnam: A Travel Cost and Contingent Valuation Study.” In “Economic Valuation and Policy Priorities for Sustainable Management of Coral Reefs.” WorldFish Centre Conference Proceedings 70.
  • Leeworthy, V., P. Wiley and J. Hospital. 2004. “Importance-Satisfaction Ratings Five-year Comparison, SPA & ER Use, and Socioeconomic and Ecological Monitoring Comparison of Results 1995-96 to 2000-01.” Silver Spring, MD: Special Projects Division, Office of Management and Budget, U.S. Department of Commerce. National Ocean and Atmospheric Administration.
  • Leisher, C., P. Van Beukering, and L.M. Scherl. 2007. “Nature's investment bank: How marine protected areas contribute to poverty reduction.” The Nature Conservancy. Online here.
  • Moberg, F. and C. Folke. 1999. “Ecological goods and services of coral reef ecosystems.” Ecological Economics 29: 215-233.
  • Ohman, M. and H. Cesar. 2000. “Costs and benefits of coral mining.” In H. Cesar (ed.). 2000. “Collected essays on the economics of coral reefs.” Kalmar, Sweden: CORDIO, Kalmar University.
  • Parsons, G.R., and S.M. Thur. 2007. “Valuing changes in the quality of coral reef ecosystems: a stated preference study of SCUBA diving in the Bonaire National Marine Park.” Environmental and Resource Economics. Published online.
  • Pendleton, L.H. 1995. “Valuing coral reef protection.” Ocean and Coastal Management 26(2): 119-131.
  • Pet-Soede et al. 2000. “Blasting away: the economics of blast fishing on Indonesian coral reefs.” In H. Cesar (ed.). 2000. “Collected essays on the economics of coral reefs.” Kalmar, Sweden: CORDIO, Kalmar University.
  • Pomeroy, R.S., E.G. Oracion, R.B. Pollnac, and D.A. Caballes. 2005. “Perceived economic factors influencing the sustainability of integrated coastal management project in the Philippines.” Ocean and Coastal Management, Elsevier 48: 360-377. Online here.
  • Spurgeon, J et al. 2004. “Economic Valuation of Coral Reefs and Adjacent Habitats in American Samoa.” Compiled for the Department of Commerce by Jacobs in association with MRAG Americas, National Institution of Water & Atmospheric Research. Online here.
  • Rolfe et al. 2006. “Choice Modelling Great Barrier Reef study.”
  • Roxburgh, T. and J. Spurgeon. 2005. “Enhancing the Role of Economic Valuation in Coral Reef Management.” Paper submitted for Agenda Item 11.1 ICRI GM (UK/Sey 3)2005/11.1 International Coral Reef Initiative (ICRI) General Meeting Seychelles, April 25-27, 2005.
  • Ruitenbeek, J. 1999. “Blue Pricing of Undersea Treasures: Needs and Opportunities for Environmental Economics Research on Coral Reef Management in South East Asia.” Paper prepared for a presentation to the 12th Biannual Workshop of EEPSEA: Environmental Economics Program for South East Asia, Singapore.
  • Ruitenbeek, J., C. Cartier, et al. 1999. “Issues in Applied Coral Reef Biodiversity Valuation: Results for Montego Bay, Jamaica.” World Bank Research Committee Project “Marine System Valuation: An Application to Coral Reef Systems in the Developing Tropics.”
  • Rudd, M.A. 2001. “The non-extractive value of spiny lobster, Panulirus argus, in the Turks and Caicos Islands.” Environmental Conservation 28 (3): 226-234.
  • Rudd, M.A., and M.H. Tupper. 2002. “The impact of Nassau Grouper size and abundance on scuba diver site selection and MPA economics.” Coastal Management 30: 133-151.
  • Ruitenbeek H.J. 1992. “Mangrove management: an economic analysis of management options with a focus on Bintuni Bay, Irian Jaya.” EMDI Environmental Reports 8, Jakarta.
  • Samonte-Tan, G., A. White, M. Tercero, J. Diviva, E. Tabara, and C. Caballes. 2007. “Economic Valuation of Coastal and Marine Resources: Bohol Marine Triangle, Philippines”. Coastal Management 35: 319-338.
  • Sanchirico, J.N. 2000. “Marine protected areas as fishery policy: A discussion of potential costs and benefits.” Resources for the Future 13.
  • Sathirathai, S. 1998. “Economic valuation of mangroves and the roles of local communities in the conservation of natural resources: case study of Surat Thani, South of Thailand.” Ottawa: EEPSEA Research Report, Environment and Economics Program for South East Asia, International Development Research Centre.
  • Seenprachawong, U. 2001. “An Economic Analysis of Coral Reefs in the Andaman Sea of Thailand.” WorldFish Center.
  • Sorice, M.G., C.O. Oh, and R.B. Ditton. 2005. “Using a stated preference discrete choice experiment to analyze scuba diver preferences for coral reef conservation.” Final report prepared for the coral reef competitive grants program of the National Fish and Wildlife Foundation.
  • Spurgeon, J. 2004. “Economic valuation of coral reefs and adjacent habitats in American Samoa.” Final Report 2004, Jacobs: UK. Online here.
  • Spurgeon, J. 1992. “The Economic Value of Coral Reefs.” Marine Pollution Bulletin 24: 529-536.
  • Tri, N.H., W.N. Adger, and M. Kelly. 1998. “Natural resource management in mitigating climate impacts: the example of mangrove restoration in Vietnam.” Global Environmental Change 8(1): 49-61.
  • UNEP-WCMC. 2006. “In the front line: shoreline protection and other ecosystem services from mangroves and coral reefs.” Cambridge, UK: UNEP-WCMC.
  • van Beukering, P. and H. Cesar. 2004. “Ecological Economic Modeling of Coral Reefs: Evaluating Tourist Overuse at Hanauma Bay and Algae Blooms at the Kı¯hei Coast, Hawai’i.” Pacific Science 58 (2): 243-260.
  • Wielgus, J., N.E. Chadwick-Furman, Z. Dubinsky, M. Shechter, and N. Zeitouni. 2002. “Dose-response modeling of recreationally important coral reef attributes: a review and potential application to the economic valuation of damage.” Coral Reefs 21(3): 253-259.
  • Wielgus, J., N.E. Chadwick-Furman, N. Zeitouni, and M. Shechter. 2003. “Effects of coral reef attribute damage on recreational welfare.” Marine Resource Economics 18(3): 225-237.
  • Wielgus, J. 2004. “General protocol for calculating the basis of legal claims for damages caused by vessel groundings in Eilat. Israel Nature and National Parks Protection Authority, Jerusalem.” Available in ReefBase.
  • White, A.T., M. Ross, and M. Flores. 2000. “Benefits and Costs of Coral Reef and Wetland Management, Olango Island, Philippines.” In H. Cesar (ed.). 2000. “Collected essays on the economics of coral reefs.” Kalmar, Sweden: CORDIO, Kalmar University, pp 215-227. Online here.
  • White, A. and R. Rosales. 2003. “Community-oriented marine tourism in the Philippines: Role in economic development and conservation.” In Gossling, S. (ed.) “Tourism and Development in Tropical Islands: Pikictalk Ecology Persectives.” Cheltenham: Edward Elgar Publishing, pp 237-263.
  • Whitehead, J.C., T.C. Haab, and J. Huang. 2000. “Measuring recreation benefits of quality improvements with revealed and stated behavior data.” Resource and Energy Economics 22 (4); 339-354.
  • Worm, B., E.B. Barbier, N. Beaumont, J.E. Duffy, C. Folke, B.S. Halpern, J.B.C. Jackson, H.K. Lotze, F. Micheli, S.R. Palumbi, E. Sala, K.A. Selkoe, J.J. Stachowicz, and R. Watson. 2006. “Impacts of biodiversity loss on ocean ecosystem services.” Science 314: 787-790.
  • Wright, M.G. 1994. “An Economic Analysis of Coral Reef Protection in Negril, Jamaica.” Williamstown, MA: Williams College, Thesis.

Examples of Economic Valuation Applications Resulting in Tangible Outcomes

Examples for Coastal Ecosystems
  • Barbier, E.B. and I. Strand. 1998. “Valuing Mangrove-Fishery Linkages.” Environmental and Resource Economics 12: 151-166.
  • Beaumont, N., M. Townsend, S. Mangi, and M. Austen. 2006. “Marine Biodiversity - An economic valuation: Building the evidence base for the Marine Bill.” Prepared for DEFRA, UK. Plymouth, UK: Plymouth Marine Laboratory.
  • Dixon, J., L. Scura, and T. van’t Hof. 1993. “Ecology and microeconomics as ‘Joint Products’: The Bonaire Marine Park in the Caribbean.” World Bank, LATEN Dissemination Note #6.
  • Hargreaves-Allen, V. writes: “A previous and simple exploration of visitor WTP for whale shark trips at the Gladden Spit reserve (Rachel Graham) helped to influence the decision to raise entrance fees for whale shark trips (personal communication, Gladden Spit Marine Reserve Manager, Belize). A recent valuation study (by V. Hargreaves-Allen) will also be used to lobby the government department to let the reserve keep some or all of the entrance fees collected. By having a valuation exercise, they can make a case that the reserve is producing tangible benefits and is therefore a good investment. In addition, the visitor WTP study is being used to convince local tour operators that fees can be increased.”
  • Newell, R.I.E., T.R. Fisher, R.R. Holyoke and J.C. Cornwell. 2005. “The Comparative Roles of Suspension Feeders in Ecosystems.” In R. Dame and S.Olenin, eds. “NATO Science Series: IV - Earth and Environmental Sciences.” Vol 47. Springer, Netherlands, pp 93-120.
  • Sathirathai, S. 1998. “Economic Valuation of Mangroves and the Roles of Local Communities in the Conservation of Natural Resources.” EEPSEA Research Report Series.
Examples for Terrestrial Ecosystems
  • Muñoz-Piña, G.A., J. Torres, and J. Braña. 2008. “Paying for the hydrological services of Mexico's forests: analysis, negotiations and results.” Ecological Economics (in press – corrected proof).
  • Natural Capital Project. Online here.
  • van Beukering, P., L. Brander, E. Tompkins, and E. McKenzie. 2007. “Valuing the Environment in Small Islands - An Environmental Economics Toolkit.” United Kingdom: Joint Nature Conservation Committee (JNCC). Online here.

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