Estimation of monetary values of the ecosystem services flow at the tidal Elbe river
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Date
2016
Authors
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Journal ISSN
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Publisher
Hindawi Publishing Corporation
Abstract
Most ecosystem services are regarded as free goods (i.e., priceless). This paper estimates monetary value of the ecosystem services
after renaturalizing the navigation channel in the Kreetsand’s area along the tidal section of the Elbe River. The river channel is
basically reconnected to its floodplain which is currently grassland. The paper used benefit transfer method whereby values from
previous studies are adopted to estimate total economic value of the ecosystemservices provided by the study area.Theresults show
that total economic value of the ecosystem services flow at the Kreetsand’s shallow water area is €0.83 million/year. Nevertheless,
the value seems to be underestimated due to errors inherited during valuation. After 44 years, the value will accumulate to €36.5
million, which is equal to the project investment cost estimated to be around €36.6 million. Based on the cost-benefit analysis
results for the project, it is concluded that river renaturalization is the best option because it increases ecosystem services flow. The
paper recommends that a similar study should
Description
Journal Article
Keywords
Ecosystem, Monetary Values, Tidal, River