Study calculates value of Virginia coastal wetlands at $90 million
Wetlands in Hampton Roads are an important part of the ecosystem, and a new study attempts to quantify their worth to the community by calculating a monetary value.
Ecosystem services valuation comprises a suite of economic, biophysical, and integrated assessment methods used to quantify and monetize the benefits humans derive from ecosystems, such as provisioning, regulating, cultural, and supporting services. Methodological approaches include market-based valuation (e.g., pricing of timber or fish), revealed-preference methods (e.g., travel cost, hedonic pricing), stated-preference techniques (e.g., contingent valuation, choice experiments), and cost-based methods (e.g., replacement, avoidance, restoration costs). These methods often integrate ecological production functions, spatial modeling, and scenario analysis to link ecological change to human welfare, supporting cost–benefit analysis, natural capital accounting, and policy impact assessments.
Wetlands in Hampton Roads are an important part of the ecosystem, and a new study attempts to quantify their worth to the community by calculating a monetary value.
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