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Economic Values of Protected Marine Species: Empirical Studies and Challenges for Ecosystem-Based Management

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  • The literature related to valuing the protection of threatened and endangered marine species using stated preference non-market valuation methods is summarized and examined. This includes an evaluation of the suitability of existing threatened, endangered, and rare marine species values as inputs for the analysis of marine and coastal policies, and the prospects and challenges for improving them. The published literature is found to suffer from coverage issues, both geographical and in terms of species types. It includes stated preference valuation studies focused on marine species only in developed countries (United States, Canada, Australia, United Kingdom, Spain, and Greece), with the highest concentration of studies occurring in the United States. The species valued primarily can be classified as charismatic megafauna-seals and sea lions, whales, and sea turtles-plus well-known fish species, like salmon. Only a small handful of lesser known species are included among those valued to date. Species value estimates were as much as $356 (2013 U.S. dollars), but differed in the frequency of payments (e.g., lump sum vs. annual), the entity paying (e.g., household, resident, or visitor), and the specific good being valued (e.g., species preservation or a type of enhancement). Potential sources of errors arising from the use of these values for policy analyses, and the temporal stability of them, provide reasons to be cautious in their application. Nevertheless, several trends in the literature appear to provide reasons to be optimistic about the literature, particularly the recent expansion of types of species valued and more policy-relevant values.
  • Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, held July 11-15, 2016 at Aberdeen Exhibition and Conference Center (AECC), Aberdeen, Scotland, UK.
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  • Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016.
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  • Aberdeen, Scotland, UK
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Peer Reviewed
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  • 0976343290

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