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Economic valuation of mangroves and decision-making in the Pacific

Lal, Padma

Description

Economists have always argued that only when people bear true economic costs of using natural resources, such as mangroves, that they will have appropriate incentives to use them efficiently and minimize their degradation and losses. More recently, non-economists, too, have started to call for the use of economic valuation information to argue for conservation of mangroves. This paper briefly examines the role economic valuation information can play, at least theoretically, in encouraging...[Show more]

dc.contributor.authorLal, Padma
dc.date.accessioned2015-12-13T22:27:35Z
dc.date.available2015-12-13T22:27:35Z
dc.identifier.issn0964-5691
dc.identifier.urihttp://hdl.handle.net/1885/74003
dc.description.abstractEconomists have always argued that only when people bear true economic costs of using natural resources, such as mangroves, that they will have appropriate incentives to use them efficiently and minimize their degradation and losses. More recently, non-economists, too, have started to call for the use of economic valuation information to argue for conservation of mangroves. This paper briefly examines the role economic valuation information can play, at least theoretically, in encouraging conservation of mangroves and increasing efficiency in resource use. In practice, the paper argues that a number of difficulties are likely to be encountered when determining true economic value of mangroves, particularly when small areas of mangroves are involved. A total reliance on economic valuation-based decision-making is questioned, particularly in the light of minimal ecological information often available in small island nations in the Pacific. An alternative decision-making process is proposed in which the relevance of economic valuation-based decision-making is recognized but at a second tier level.
dc.publisherElsevier
dc.sourceOcean and Coastal Management
dc.subjectKeywords: Biodiversity; Conservation; Cost benefit analysis; Decision making; Ecology; Economic and social effects; Natural resources; Islands; Mangroves; Coastal engineering; coastal zone; conservation; decision making; environmental values; mangrove; Pacific isla
dc.titleEconomic valuation of mangroves and decision-making in the Pacific
dc.typeJournal article
local.description.notesImported from ARIES
local.description.refereedYes
local.identifier.citationvolume46
dc.date.issued2003
local.identifier.absfor140205 - Environment and Resource Economics
local.identifier.ariespublicationMigratedxPub3925
local.type.statusPublished Version
local.contributor.affiliationLal, Padma, College of Asia and the Pacific, ANU
local.bibliographicCitation.startpage823
local.bibliographicCitation.lastpage844
local.identifier.doi10.1016/S0964-5691(03)00062-0
dc.date.updated2015-12-11T08:33:00Z
local.identifier.scopusID2-s2.0-0347662392
CollectionsANU Research Publications

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