1) Market
Price Method
Estimates economic values for ecosystem products or services that
are bought and sold in commercial markets.
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2) Productivity
Method
Estimates economic values for ecosystem products or services that
contribute to the production of commercially marketed goods
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3) Hedonic
Pricing Method
Estimates economic values for ecosystem or environmental services
that directly affect market prices of some other good. Most commonly applied
to variations in housing prices that reflect the value of local environmental
attributes.
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4) Travel
Cost Method
Estimates economic values associated with ecosystems or sites
that are used for recreation. Assumes
that the value of a site is reflected in how much people are willing to
pay to travel to visit the site.
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5) Damage
Cost Avoided, Replacement Cost, and Substitute Cost Methods
Estimate economic values based on costs of avoided damages resulting
from lost ecosystem services, costs of replacing ecosystem services, or
costs of providing substitute services.
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6) Contingent
Valuation Method
Estimates economic values for virtually any ecosystem or environmental
service. The most widely
used method for estimating non-use, or ˇ¦passive useˇ¦ values. Asks
people to directly state their willingness to pay for specific environmental
services, based on a hypothetical scenario.
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7) Contingent
Choice Method
Estimates economic values for virtually any ecosystem or environmental
service. Based on asking people to make tradeoffs among sets of ecosystem
or environmental services or characteristics. Does
not directly ask for willingness to payˇ¦this is inferred from tradeoffs
that include cost as an attribute.
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8) Benefit
Transfer Method
Estimates economic values by transferring existing benefit estimates
from studies already completed for another location or issue.
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