| When making policy decisions regarding ecosystem management, human well being, economic gain, and proper price of natural capital must be weighed and determined. Many nations are starting to explore avenues to use ecosystem services to raise capital and aid in conservation. Payments for Ecosystem Services have influenced land management and conservation practices in Costa Rica and are providing a unique method for managing tropical landscapes and conserving areas of high biodiversity. The following case study attempted to assess a parcel of land adjacent to an existing reserve to determine the ultimate ecological and economic value of the land. The biodiversity of both the reserve and adjacent property were quantified, mapped and a cost--benefit analysis was calculated to determine economic value. The study determined, due to the lack of a standardized economic valuation method and tradable markets for ecosystem services, that an actual monetary value currently couldn't be assigned to an ecosystem. |
