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Multi-criteria decision analysis and cost-benefit analysis: comparing alternative frameworks for integrated valuation of ecosystem services

Gomez-Baggethun, Erik; Antunes, Paula; Keune, Hans; Geneletti, Davide; Barton, David Nicholas; Mustajoki, Jyri; Saarikoski, Heli; Marttunen, Mika; Santos, Rui; Langemeyer, Johannes
Journal article, Peer reviewed
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URI
http://hdl.handle.net/11250/2424952
Date
2016
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  • Publikasjoner fra CRIStin - NINA [1756]
  • Scientific publications [787]
Original version
10.1016/j.ecoser.2016.10.014
Abstract
Multi-Criteria Decision Analysis (MCDA) methods has been promoted as an alternative approach to monetary

economic valuation of ecosystem services in Cost-Benefit Analysis framework (CBA). We discuss the potential of

MCDA in providing a framework for integrated valuation of ecosystem services. We conclude that MCDA does in

general perform better than CBA and associated monetary valuation techniques in several aspects that are

essential in ecosystem service valuation. These include the ability of a valuation method to account for multiple

dimensions of well-being, including ecological and economic as well as cultural and moral aspects of a policy or

management problem and to facilitate open and transparent public debate on the pros and cons of alternative

courses of action, including the distribution of gains and losses across beneficiaries of ecosystem services. The

capacity of MCDA to articulate values related to ecosystem services depends on individual methods used in the

MCDA process. More importantly, it depends of the ways in which the process is organized and facilitated.

However, MCDA cannot provide representative information of the values of wider population. Further empirical

and theoretical research is needed on the potential of hybrid methodologies to combine monetary valuation and

MCDA in fruitful ways.
Journal
Ecosystem Services

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