Monetary-based ($£r) Ecosystem Valuation Methods (a)
¥Market Prices – Revealed Willingness to Pay
–1) Market Price Method
–        Estimates economic values for ecosystem products or services that are bought and sold in commercial markets.

–2) Productivity Method
–         Estimates economic values for ecosystem products or services that contribute to the production of commercially marketed goods

–3) Hedonic Pricing Method
–       Estimates economic values for ecosystem or environmental services that directly affect market prices of some other good. Most commonly applied to variations in housing prices that reflect the value of local environmental attributes.

–4) Travel Cost Method
–       Estimates economic values associated with ecosystems or sites that are used for recreation. Assumes that the value of a site is reflected in how much people are willing to pay to travel to visit the site.