. Deep-sea biodiversity and ecosystems - a scoping report on their socio-economy, management and governance. UNEP-WCMC Biodiversity Series 28. Ecosystem functions, goods and services and their valuation. An amphipod (Crustacea) found in deep Mediterranean waters. the need to broaden the horizon of analysis when attempting to capture the value of ecosystem goods and service. Computing total or subtotal dollar figures may not be feasible, or necessarily desirable. Nevertheless, certain values can be estimated in monetary and non-monetary terms, for which a number of methods exist. Valuation meth
. Deep-sea biodiversity and ecosystems - a scoping report on their socio-economy, management and governance. UNEP-WCMC Biodiversity Series 28. Ecosystem functions, goods and services and their valuation. An amphipod (Crustacea) found in deep Mediterranean waters. the need to broaden the horizon of analysis when attempting to capture the value of ecosystem goods and service. Computing total or subtotal dollar figures may not be feasible, or necessarily desirable. Nevertheless, certain values can be estimated in monetary and non-monetary terms, for which a number of methods exist. Valuation methods There are two broad categories of valuation methods: monetary methods and non-monetary ones (Box ). While the former attempt at setting a price tag in a single numeraire (for example, dollars) on ecosystem goods and services, the latter recognize the inherent incommen- surability of different aspects of the value of nature and rather explore how actors value ihe objects under consideration (See DEFRA, 2006 for a recent inventory of methods). Whatever the valuation methodlsl used, it is important to stress that valuation evidence is to support rather than to make decisions. Decision making is ultimately a political process. As stressed in the MA (MA, 2003, ): "the [quantified] ecosystem values in this sense are only one of the bases on which decisions on ecosystem management are and should be made. Many other factors, including notions of intrinsic value and other objectives that society might have (such as equity among different groups or generations!, will also feed into the decision framework. Even when decisions are made on other bases, however, estimates of changes in utilitarian value provide invaluable information". It is important to note that monetary valuation is not a necessary ingredient of decision making, even though it can be of great use when applicable, available and of good quality. Obviously, many decision makers do act without having a qu
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