Abstract for: A Methodological Framework for the Valuation of Non-Marketable Species Based on their Ecological Function in the Agroecosystem
In spite global actions, biodiversity is declining at an alarming rate. Policy measures to safeguard biodiversity implies the decision to bear opportunity costs. In spite the need for objectively comparable monetary standards to include biodiversity arguments in policymaking, the relationship between species diversity and itís valuation from a societal perspective is still scarce. Therefore in this paper a methodological framework for the valuation of non-marketable species based on the ecological role of species in the agroecosystem to provide support for objective policy making outweighing the costs and benefits of biodiversity conservation is introduced. The framework integrates (i) a dynamic ecological model simulating interactions between species with (ii) an economic model integrating private and external costs of a loss of species diversity. The model (i) quantifies the contribution of biodiversity to the decrease of costs in agroecosystems through the use of a production function technique, and (ii) attributes an objective monetary value to increased species diversity through the changes in the provisioning of a marketable good. The aim of the methodological framework is providing a justification for the argument for biodiversity conservation through the delivery of comparable monetary standards which can be employed when considering trade-offs in policy making.