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Decision Support for Biosecurity: Valuation of Biodiversity

Decision Support for Biosecurity: Valuation of Biodiversity. Brian Bell. The Problem. How to integrate theory into practice? How to support decision making where there are no market prices to estimate value?

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Decision Support for Biosecurity: Valuation of Biodiversity

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  1. Decision Support for Biosecurity:Valuation of Biodiversity Brian Bell

  2. The Problem • How to integrate theory into practice? • How to support decision making where there are no market prices to estimate value? • Why value? – because if you don’t know the value how do you know how much to spend protecting it • At some point the cost of protection will exceed the value

  3. Where market prices exist • Well established theory and practice • Risk analysis • Economic impact assessment • Cost Benefit Analysis • Discounted cashflows: NPV +ve, NB/C>0 • Risk simulation: risk aversion - QuRATM • By the way - • Qualitative costs and benefits described!

  4. Non-market values – Indigenous Biodiversity • What are we talking about? • As incomes rise material needs are met • The value of being a New Zealander • Unique landscapes, fauna and flora

  5. Non-market values – Indigenous Biodiversity • Environmental concerns about diminishing biodiversity • But how much to spend on it? • Not unlimited! A trade-off eg health & education

  6. Tools for non-market valuation • Multi Criteria Analysis (MCA) • A decision making framework incorporating monetary and non-monetary information to evaluate options • Experts score components of value • Economic, Environmental, Social, Cultural • Scores are added

  7. Tools for non-market valuation • Choice Modelling • Experts provide information • Cross section of population surveyed • Choose between alternatives • Impact and control scenarios • Statistical methods to estimate value

  8. Issues • Whose value? • The need for quick decisions • Good analysis takes time and money • How to make use of previous analysis? • How to involve experts/ordinary people? • The need to inform, but not bias • Realistic scenarios, but simple enough • The impact on value of distance/proximity • The impact of scope: local, regional, national • Estimating value is too hard! Alternatives?

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