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Please use this identifier to cite or link to this item: http://hdl.handle.net/1946/4358

  • is Economic valuation of ecosystem services, the case of Lake Elliðavatn and Lake Vífilsstaðavatn
  • is

    Managing the environment is a complicated task constantly faced by decision-makers
    in all the world´s communities. In Iceland heated debates have been going on over the
    recent years concerning whether natural areas should be industrially developed or
    protected for recreational purposes. The aim of this paper is to bring another
    perspective to the Icelandic debate, an economic valuation of ecosystem services. The
    term “ecosystem services” refers to the benefits human population derives from
    ecosystems. The ecosystem services provided by two lakes in the capital area of
    Iceland, Lake Elliðavatn and Lake Vífilsstaðavatn were assessed according to the
    categorization scheme of the Millennium Ecosystem Assessment (MEA) published in
    2005. The MEA classifies ecosystem services into four categories; provisioning
    services, regulating services, cultural services and supporting services. Services from
    each category were identified and valued with economic valuation methods; market
    price, defensive behavior, travel cost and factor income. The final result is that the
    annual value of ecosystem services provided by Lake Elliðavatn in 2009 is in the
    range of ISK 83.263.647 - 101.308.524 (constant ISK 2009). For Lake Vífilsstaðavatn
    this value is in the range of ISK 5.713.925 - 5.981.560 (constant ISK 2009). It was
    concluded that although an economic valuation of ecosystem services can only serve
    as an indicator of a potential value of the ecosystem services provision, it still
    provides an important contribution to the debate of environmental manament in

  • Jan 25, 2010
  • http://hdl.handle.net/1946/4358

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