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%T Are diverse ecosystems more valuable? A conceptual framework for economic valuation of biodiversity %A Bartkowski, Bartosz %P 21 %V 9/2016 %D 2016 %K economic valuation; insurance value; option value; TEV %@ 1436-140X %~ Helmholtz-Zentrum für Umweltforschung - UFZ %> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-47321-8 %X Biodiversity is an important environmental public good. However, the literature suggests that it is not clear how its economic value should be estimated; there is no established framework for doing this. This paper summarises concepts of biodiversity value from the ecological and economic literatures and combines them to a comprehensive and consistent framework. It is argued that biodiversity is the main carrier of insurance value, option value and spill-over value, and also influences the aesthetic appreciation of ecosystems. On that basis, an extension of the TEV framework is proposed to incorporate biodiversity values better. Furthermore, a number of specific challenges of biodiversity as an economic good are identified and used as criteria to inform the choice of suitable valuation methods. %C DEU %C Leipzig %G en %9 Arbeitspapier %W GESIS - http://www.gesis.org %~ SSOAR - http://www.ssoar.info