10.2.2 Unit Values
In general, the economic value of a resource or infrastructure component is best
estimated at the margin, that is, in the context of a question such as “what is the
value of an additional square kilometer of coastal wetlands to a region’s seafood or
coastal tourism industries,” or “what is the value of an additional kilometer of beach
to a region’s coastal recreation benefits”? The value per unit area of an incremental
piece of marine habitat, for example, depends not only on the location and characteristics of that piece, but also on how much of that kind of habitat already exists
in the regional ecosystem. For these reasons, estimates of unit value (dollars per
square kilometer, or dollars per year per square kilometer) for natural resources
should generally be treated with caution.
The economic value of some marine ecosystem services, including the provision
of seafood and other marine products, and certain recreational amenities, can be
Fig. 10.2 Mapping resources to economic sectors and value generation (adapted from
Kite-Powell et al. 2016)
238
H.L. Kite-Powell
In general, the economic value of a resource or infrastructure component is best
estimated at the margin, that is, in the context of a question such as “what is the
value of an additional square kilometer of coastal wetlands to a region’s seafood or
coastal tourism industries,” or “what is the value of an additional kilometer of beach
to a region’s coastal recreation benefits”? The value per unit area of an incremental
piece of marine habitat, for example, depends not only on the location and characteristics of that piece, but also on how much of that kind of habitat already exists
in the regional ecosystem. For these reasons, estimates of unit value (dollars per
square kilometer, or dollars per year per square kilometer) for natural resources
should generally be treated with caution.
The economic value of some marine ecosystem services, including the provision
of seafood and other marine products, and certain recreational amenities, can be
Fig. 10.2 Mapping resources to economic sectors and value generation (adapted from
Kite-Powell et al. 2016)
238
H.L. Kite-Powell