Progress, problems, and prospects for successful economic valuation of Wetlands

Abstract

Much work is left to be done to estimate monetary wetland values that are verifiable, comparable, and acceptable to all parties involved in wetland allocation disputes. It is not so much that techniques need to be developed, but more so that interdisciplinary cooperation needs to be improved so that dichotomous interests can be combined to work toward a common end. A model is suggested that presents a framework for practitioners from all involved disciplines to design and carry out complementing pieces of research. The valuation model helps to identify areas where research is needed to achieve a holistic valuation. Both independent research efforts and larger interdisciplinary projects can be accommodated by the model. The wetland valuation model simulates the dynamic and highly interactive nature of the system—from ecosystem to social system. An interdisciplinary approach allows detailed analysis of components of the ecosystem that in turn lead to analyses of product outputs and subsequent estimation of socioeconomic values on a broad scale. The model presents the wetland ecosystem and the affected socioeconomic system in such a way that all involved disciplines can readily identify how research in their areas of expertise relates to research in other areas.