Restoration and Economics: A Union Waiting to Happen?
Version of Record online: 9 OCT 2011
© 2011 Society for Ecological Restoration International
Volume 20, Issue 1, pages 10–17, January 2012
How to Cite
Robbins, A. S. T. and Daniels, J. M. (2012), Restoration and Economics: A Union Waiting to Happen?. Restoration Ecology, 20: 10–17. doi: 10.1111/j.1526-100X.2011.00838.x
- Issue online: 4 JAN 2012
- Version of Record online: 9 OCT 2011
- ecosystem services;
- nonmarket valuation;
In this article, our objective is to introduce economics as a tool for the planning, prioritization, and evaluation of restoration projects. Studies that develop economic estimates of public values for ecological restoration employ methods that may be unfamiliar to practitioners. We hope to address this knowledge gap by describing economic concepts in the context of ecological restoration. We have summarized the most common methods for estimating the costs and benefits of restoration projects as well as frameworks for decision analysis and prioritization. These methods are illustrated in a review of the literature as it applies to terrestrial restoration in the United States, with examples of applications of methods to projects. Our hope is that practitioners will consider collaborating with economists to help ensure that restoration costs and benefits are identified and understood.