Economic Value of Biodiversity

The economic value of biodiversity is measured in the numerous benefits that are derived from it: both tangible and intangible. These range from the things that are produced and sold, which are derived both directly and indirectly from biodiversity, to the non-marketed things that contribute to both our well-being and to the economy. These benefits can be demonstrated to already be significant in the areas where they are measured in market activities. By illustrating those benefits, a case is made that market failures lead to potentially substantial loss. Moreover, by demonstrating the measurable, but not yet quantified, benefits of biodiversity, a compelling case can be made for policy intervention. This chapter provides a sampling of the many values that biodiversity has for people. Since many of those values are not marketed, and thus not directly measured, valuation ...