Ecosystems and biodiversity have been degraded over decades due to human activities. One of the critical causes is market failure: the current market only accounts tangible resources and neglects intangible functions, such as climate control and natural hazard mitigation. Under such circumstances in capitalism, land conversion and resource exploitation, which generate financial income, are highly prioritised over conservation, which is not necessarily beneficial in monetary terms.
To halt ecosystem degradation, thus, the values of ecosystem services need to be visualised and economic instruments for ecosystem conservation should be further developed. This book focuses on these two aspects and performs several studies, including valuation of ecosystem services, productivity analysis, institutional design of payment for ecosystem services (PES), impact assessment of reduction emission from deforestation and forest degradation (REDD), and economic experiment of mitigation banking scheme. From these analysis, economic values of ecosystem services are demonstrated from both supply and demand side, and the directions for improving economic instruments are indicated both directly and indirectly.
As many of these analysis are usually conducted in the North America and Europe, this book is unique in geographical focus, namely, Japan, Asia and globe. Also, wide variety of ecosystems are targeted for studies; agricultural lands, forests, wetlands, and marine. Hence, this will be informative introduction for those who desire to study economics of biodiversity and ecosystem services in these regions and of these ecological zones.
1. Sustainable Use of Ecosystem Services, Kei Kabaya and Shunsuke Managi 2. Convention of Biological Diversity and Other Initiatives to Worldwide Protection of Biological Diversity and Ecosystem Services, Tania Ray Bhattacharya and Shunsuke Managi 3. The Value of Biodiversity and Recreation Demand Models: A Spatial Kuhn-Tucker Model, Koichi Kuriyama, Yasushi Shoji and Takahiro Tsuge 4. Payment for Agricultural Ecosystem Services and Its Valuation, Kentaro Yoshida 5. Determinants of Happiness: Environmental Degradation and Attachment to Nature, Tetsuya Tsurumi, Kei Kuramashi, and Shunsuke Managi 6. Productivity Analysis on Ecosystems and Biodiversity, Kei Kabaya and Shunsuke Managi 7. Towards the Establishment of a PES Policy Framework, Seiji Ikkatai 8. Impact Assessment of Sustainable Forest Use Policy with the Economic Model, Satoshi Kojima and Kei Kabaya 9. Financing REDD-plus: A Review of Options and Challenges, Kimihiko Hyakumura and Henry Scheyvens 10. Evaluation of Offset Schemes with a Laboratory Experiment, Keisaku Higashida, Kenta Tanaka, and Shunsuke Managi 11. Project Portfolio Analysis on the Global Ecosystem Restoration, Kei Kabaya and Shunsuke Managi 12. Diversity on Fisheries: Price Volatilities in Japanese Market, Kentaka Aruga and Shunsuke Managi 13. Market Delineation among the Japanese Retail Fish Market, Kentaka Aruga and Shunsuke Managi Conclusion. Towards Biodiversity Conservation, Shunsuke Managi and Kei Kabaya