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Adding Monetary Value to Nature

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Lisa Scanlon

on 2 October 2016

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Transcript of Adding Monetary Value to Nature

References:

Clayton, S. & Myers, G. (2009). Attitudes, values, and perceptions.

In Conservation psychology: Understanding and promoting human care for nature

(pp. 15-33). Hoboken, NJ: Wiley-Blackwell.

Daily, G., Polasky, S., Goldstein, J., Kareiva, P., Mooney, H., Pejchar, L., Ricketts, T., Salzman, J., & Shallenberger, R. (2009). Ecosystem services in decision-making: Time to deliver.

Frontier Ecology Environmental, 7(1), 21-28.

Maguire, L., & Justus, J. (2008). Why intrinsic value is a poor basis for conservation decisions.

BioScience,
58
(10), 910-911.

Miller, J. (2005). Biodiversity conservation and the extinction of experience.
Trends in Ecology & Evolution,
20(8), 430-434.

Sukhdev, P. (2011, July).
Pavan Sukhdev: Put a value on nature![video file].
Retrieved from http://www.ted.com/talks/pavan_sukhdev_what_s_the_price_of_nature



The Monetary Value of Nature
Matthew Bearden
Victoria Dunch
Lisa Scanlon
James Zlomke
Biodiversity
Discussion #3:
Varied Values
Intrinsic value









Extrinsic value
The total values people placed on their subjects were astronomical, and probably still underestimated. The Natural Capital (Sukhdev, 2011) of these areas is large and far reaching.

Every area valued, however, was valued in intrinsic ways as well. Some through religious affiliation with the area, some through cultural and archaeological importance. All areas valued were valued as a way to avoid the extinction of experience as defined by Miller (2005).

The totals from our discussions were
$89,379,605 in given numbers
+ several millions - billions of $$
=
Billions of $$
Replacement Cost
Willingness to Pay
Hedonic
Favorite Comments
Extrinsic Cost Example Terms
Commonly used in terms of housing cost. Some examples from our discussions were
Hawaii Volcanoes National Park
Open Space with recreational trails and fields--increased property values in the area by more than
$30 million
!--Ellie Mock
Examples from our discussions were
Trees in the Vedauwoo area--more than $2.4 million in carbon sequestration--Jim Zlomke
Housing prices
near Muir Woods area--median house price
$1.6million
--Zachary Metz
$36 million in visitor fees yearly--Colleen Cole
Trees and plants in Cincinatti--can eliminate costs for air purification systems--Felicia Rinaldi
Snow in Colorado--water source, provides almost $170 million in water--Lara Coleman-Sprague
Some examples from our discussions were
Cabrillo National Monument-Coastal Sage Scrub--people pay $10 per vehicle to visit the park--Victoria Dunch; Tidepools--approximately $1 million in entrance fees--Elizabeth Parker
Wells Estuarine Reserve--approximately $75,000 annually in entrance fees--Annie Brown
Travel Cost
Some examples
Glacier National Park--"mascot of Montana"--a huge tourist draw. More than $71 million in tourism(this is just entrance fees)--Jerilyn Wood
Santa Monica Mountains--almost $23 million in the park from visitors--Michelle Race
Extinction of Experience
Some examples from our discussions were
Colorado's Aspen Trees--rather priceless view----Taliah Farnsworth
Little Miami River--apartment costs are approximately
$200 more
here than similar apartments in Cincinnati--Emily Myers
According to Sukhdev (2011), "Economics have become the currency of policy" so it does appear we need to focus a bit on this
To achieve our end goal of protecting this
Hedonic

Replacement Cost

Willingness to pay

Travel Cost
Clayton, S. & Myers, G. (2009). Attitudes, values, and perceptions.

In Conservation psychology: Understanding and promoting human care for nature
(pp. 15-33). Hoboken, NJ: Wiley-Blackwell.

Daily, G., Polasky, S., Goldstein, J., Kareiva, P., Mooney, H., Pejchar, L., Ricketts, T., Salzman, J., & Shallenberger, R. (2009). Ecosystem services in decision-making: Time to deliver.
Frontier Ecology Environmental
, 7(1), 21-28.

Maguire, L., & Justus, J. (2008). Why intrinsic value is a poor basis for conservation decisions.
BioScience
, 58(10), 910-911.

Miller, J. (2005). Biodiversity conservation and the extinction of experience.
Trends in Ecology & Evolution
, 20(8), 430-434.

Sukhdev, P. (2011, July). Pavan Sukhdev: Put a value on nature![video file]. Retrieved from http://www.ted.com/talks/pavan_sukhdev_what_s_the_price_of_nature


References
Sangamon River, IL--place for fishing, canoeing, and more--Tracy Taft
Balboa Park--lovely park in San Diego--reconnecting people with nature--Matthew Bearden
The 2016 CSC 03 Class!
"Cayuga Lake is used by boaters, recreational swimmers, anglers, tour groups, and more. There is a very popular wine trail along Cayuga Lake, and each of the wineries has a lovely view of the lake, making their wineries an enjoyable destination for dinner or scenic drives...The social aspects of boating, attending parks together, and camping at parks along Cayuga Lake are not all that measurable in dollars, and fit much more into the extinction of experience that Miller (2005) mentions. In our previous assignments we have discussed social capital and its importance. The social capital lost without the natural gathering spots of these lakefront swimming, boating, camping, and fishing areas is significant." --Lisa Scanlon
Different Opinions on Values
One interpretation - Urban Living causing disconnect from nature

"The report, 'Economic Analysis of Outdoor Recreation at Washington State Parks' (2015) has found the total monetary value of ecosystem services provided by all state parks in Washington to be between $500 million and $1.2 billion annually. This sum does not include all of the economic benefits provided by state parks through the funds they accrue in daily and annual passes, camping/hiking supplies, and summer and winter activities, to name a few."--Keirsten Hurst
This area is called the Urban Wilderness and Baker's Creek Preserve which are two areas of land connected by a pedestrial bridge to make 40+ miles of trail. These parks have been a major area of pride for Knoxville outdoor enthusiasts as well as a strong economic driver. Shortly after these trails were built, Tennessee Department of Transportation was making plans to run part of an interstate right through the area. Institutions such as TDOT do not yet have the ability to place a value on these natural resources or the capital they can provide because the framework for making these decisions does not exist (Daily et al. 2009)."--Rebecca Wyatt
Extrinsic: Maguire and Justus (2008)

"Susan Clayton and Gene Myers (2009) point out that many people focus on high visibility risks such as an oil spill, however they ignore slow increase risk such as runoff or global warming. I see this in my classroom; students are aware of environmental disasters that make newspaper headlines, however, I have to remind them that paper is recyclable." --Shana Barnett
Across Multiple Time Zones

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