The Wetland Book pp 2127-2132 | Cite as

Economic Valuation of Wetlands: Total Economic Value

Reference work entry

Abstract

Total economic value (TEV) is one of the most widely used and commonly accepted frameworks for classifying wetland economic benefits and for attempting to integrate them into decision-making. Its major innovation is that, rather than just considering commercial or extractive values, TEV also takes into account subsistence and nonmarket values, ecological functions, and nonuse benefits. TEV is used to overcome the problems associated with the under-valuation of wetland benefits that has plagued conventional economic analysis and decision-making.

Keywords

Economic value Wetland services Decision-making 

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Copyright information

© Springer Science+Business Media B.V., part of Springer Nature 2018

Authors and Affiliations

  1. 1.Environment Management GroupColomboSri Lanka

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