Please use this identifier to cite or link to this item:
Appears in Collections:Economics Working Papers
Peer Review Status: Unrefereed
Title: Twenty Thousand Sterling Under the Sea: Estimating the value of protecting deep-sea biodiversity
Author(s): Jobstvogt, Niels
Hanley, Nicholas
Hynes, Stephen
Kenter, Jasper
Witte, Ursula
Contact Email:
Citation: Jobstvogt N, Hanley N, Hynes S, Kenter J & Witte U (2013) Twenty Thousand Sterling Under the Sea: Estimating the value of protecting deep-sea biodiversity. Stirling Economics Discussion Paper, 2013-04.
Keywords: Deep-sea biodiversity
choice experiment
option-use value
existence value
Issue Date: 31-Dec-2013
Date Deposited: 27-Feb-2013
Series/Report no.: Stirling Economics Discussion Paper, 2013-04
Abstract: The deep-sea includes over 90% of the world oceans and is thought to be one of the most diverse ecosystems in the World. It supplies society with valuable ecosystem services, including the provision of food, the regeneration of nutrients and the sequestration of carbon. Technological advancements in the second half of the 20th century made large-scale exploitation of mineral-, hydrocarbon- and fish resources possible. These economic activities, combined with climate change impacts, constitute a considerable threat to deep-sea biodiversity. Many governments, including that of the UK, have therefore decided to implement additional protected areas in their waters of national jurisdiction. To support the decision process and to improve our understanding for the acceptance of marine conservation plans across the general public, a choice experiment survey asked Scottish households for their willingness-to-pay for additional marine protected areas in the Scottish deep-sea. This study is one of the first to use valuation methodologies to investigate public preferences for the protection of deep-sea ecosystems. The experiment focused on the elicitation of economic values for two aspects of biodiversity: (i) the existence value for deep-sea species and (ii) the option-use value of deep-sea organisms as a source for future medicinal products.
Type: Working Paper
Affiliation: University of Aberdeen
National University of Ireland - Galway
University of Aberdeen
University of Aberdeen

Files in This Item:
File Description SizeFormat 
SEDP-2013-04-Jobstvogt-Hanley-Hynes-Kenter-Witte.pdfFulltext - Accepted Version1.04 MBAdobe PDFView/Open

This item is protected by original copyright

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved

If you believe that any material held in STORRE infringes copyright, please contact providing details and we will remove the Work from public display in STORRE and investigate your claim.