Values of
ecosystem services based on:
1)costs of avoiding damages due to lost services
2)costs of replacing environmental assets, or
3)costs of providing substitute services
Estimates are
based on costs, thus, not technically correct measure of economic value
Assumes (may
or may not be correct) ES must be worth a least what people paid to replace them
(salmon problem?)
Measures of
damage costs or replacement costs generally much easier to estimate than peopleÕs willingness
to pay for ES