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The Crowding Out of Complex Social Goods

Citation

Stoeckl, N and Hicks, C and Farr, M and Grainger, D and Esparon, M and Thomas, J and Larson, S, The Crowding Out of Complex Social Goods, Ecological Economics, 144 pp. 65-72. ISSN 0921-8009 (2018) [Refereed Article]

DOI: doi:10.1016/j.ecolecon.2017.07.021

Abstract

The valuation of ecosystem services to inform natural resource management and development has gained acceptance in many arenas. Yet, contemporary economic valuation is constrained to the appraisal of simple goods that generate benefits that accrue to individuals, neglecting complex goods that generate benefits that accrue to society more broadly. Methodological barriers to the valuation of complex social goods have led to their frequent omission from natural resource management deliberations. The prevailing valuation paradigm that focuses on simple individual goods may erode conservation efforts by crowding out the institutions and behaviours that support socially constructed ecosystem service values. Erosion of these values ultimately harms the environment and society as a whole. The institutionalisation of appropriate methods for estimating the value of complex social goods alongside existing methods for valuing simple individual goods within international conservation, development and policy-making discourses, is therefore an important evolution for sustainable natural resource management.

Item Details

Item Type:Refereed Article
Research Division:Economics
Research Group:Other economics
Research Field:Ecological economics
Objective Division:Economic Framework
Objective Group:Other economic framework
Objective Field:Ecological economics
UTAS Author:Stoeckl, N (Professor Natalie Stoeckl)
ID Code:136199
Year Published:2018
Web of Science® Times Cited:17
Deposited By:College Office - CoBE
Deposited On:2019-12-05
Last Modified:2021-03-30
Downloads:0

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