Chapter 3 - Value of biodiversity Flashcards
Voluntary Transactions
take place when beneficial to parties involved
Externalities
Environmental damage is often a hidden cost of economic activity (dumping waste in environment)
Market failure
Misallocation of resources in which a business benefits at the expense of society. Economic forces will tend to undervalue natural resources and biodiversity.
Tragedy of The Commons
pushing profits causes harm
real costs of resource use
elimination of perverse species, penalties for pollution, taxes for use of fossil fuels.
Ecological economics
value of biodiversity in economic terms, used to convince government
Environmental impact statements
evaluate the impact of large projects on the environment, biodiversity, and people living nearby.
Cost - Benefit analysis
compare value gained from project vs costs
Precautionary Principle
take action just in case
Opportunity costs
Conservation / other budget requirements
Species A vs Species B
Gross domestic product
The total market value of all goods and services produced within a country, things that damage the environments may increase GDP in the short term.
Costa Rica
logging hurt the value of agriculture by 17%
Exon Valdez
oil spill in 1989 was recorded as an economic gain
BP New Horizon Oil Spill
Billions to clean up - net GDP gain
Genuine Progress indicator (GPI)
26 indicators to include impacts on all areas of our lives.
Environmental Performance index
Rank countries on how they protect the environment
Assigning value of biodiversity
Aesthetic value
Scientific value
Educational value
Economic value
- value if harvested
- Value of resource in natural state
- Future value
Ethical dilemma
Can you put a price on a lost species, we should because others will.
Direct use value
(private goods, commodity values) assigned to products people harvest
indirect use value
the value of a resource or ecosystem service that is not directly consumed or interacted with
consumptive use value
goods consumed locally, never bought or sold
Productive use value
raw materials for sale on the international market, price paid at first sale.
Forest Products
Timber/wood
Biologically derived medicine
many drugs were derived from natural products. ex. Novocain derived from coca
Herbal remedies
Ginkgo Bilboa, Marajuana, St. Johns wort
Indirect values
1- Non-Consumptive value
2 - Option value
3 - Existence value
water, air, soil quality, recreation
Nonconsumtive use values
services provided by the enviroment not used for consumption. Ecosystem services 145 trillion
Ecosystem (Primary) Productivity
base of food chain, produce oxygen and absorb CO2, plant productivity increases with diversity.
Protection of water and soil resources
plant foliage and dead leaves - intercept rain
root systems aerate the soil - causing more water absorption
Root systems protect against landslides and erosion
Logging or destruction of wetlands
increased sediment loads in water
damage water supplies
damage top soil
flooding
Climate regulation
local level
regional level
global level
local level
trees provide shade, less A/C
regional level
transpiration from plants returns water to the atmosphere
global level
plants absorb CO2, reducing CO2 levels
Waste treatment / nutrient storage
natural environments may process toxic material. expensive waste treatment plants must be utilized
Species relationships
Wild game and fish harvested require other species to grow. useful plants require birds etc. for seed dispersal. bees pollinate
detritovores
critical for nutrient cycling
Indicator species
River otters, evaluate clean river systems
Recreation value
hiking, biking, bird watching, diving, fishing
also value from related travel expenses
