Overall economic value

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The total economic value ( english Total Economic Value , TEV ) is a concept in the field of environmental economics and ecological economics for the economic evaluation of changes in the provision of environmental goods . The total economic value of a change in the quality or quantity of an environmental good (ecosystem, species, etc.) is the sum of the individual values ​​of a number of different value categories.

history

The concept of total economic value was first explicitly proposed in the 1980s by Alan Randall and John R. Stall. The basis, however, is the distinction introduced by John Krutilla between utility values ​​on the one hand and non-use values ​​on the other. The most cited account of the TEV of environmental goods can be found in the book The Economic Value of Biodiversity by David Pearce and Dominic Moran from 1994.

composition

According to the current TEEB report The Economics of Ecosystems and Biodiversity: Ecological and Economic Foundations , the total economic value is made up as follows:

  • Use values:
    • direct use value ( direct use value ) extending from the provision of directly consumable results (environmental) goods,
    • indirect use value resulting from the maintenance of environmental and ecosystem functions,
    • Option value ( option value ), resulting from the backup of other use-values in the face of uncertain results in future.
  • Non-use values:
    • Existence value , which results from the knowledge of the continued existence of environmental goods (regardless of whether they are used or not), and
    • Legacy value ( comfortably value ) that today's decision-makers grant environmental goods with regard to the interests of their descendants or future generations,
    • Altruistic value ( altruistic value ) resulting from the fact that we know that other people use an environmental good (can).

detection

Use values ​​are usually easier to quantify than non-use values, since the former, at least in theory, leave traces in economic activity. If no valuation can be carried out using market values, elements of the TEV can be determined using methods of expressed preferences (e.g. contingent valuation method). Such methods must always be used to estimate the value of the change in non-use values.

See also

Individual evidence

  1. ^ Alan Randall: Total Economic Value as a Basis for Policy . In: Transactions of the American Fisheries Society . tape 116 , no. 3 , 1987, pp. 325-335 , doi : 10.1577 / 1548-8659 (1987) 116 <325: TEVAAB> 2.0.CO; 2 .
  2. ↑ John Krutilla: Conservation reconsidered . In: American Economic Review . tape 57 , no. 4 , 1967, p. 777-786 .
  3. ^ David W. Pearce, Dominic Moran: The Economic Value of Biodiversity . Earthscan, 1994, ISBN 1-85383-195-6 , pp. 19th ff .
  4. ↑ Pushpam Kumar (Ed.): The Economics of Ecosystems and Biodiversity: Ecological and Economic Foundations . Routledge, London / New York 2010, ISBN 978-1-84971-212-5 .