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Research Article
One Ecosystem 7: e84689
https://doi.org/10.3897/oneeco.7.e84689 (09 Sep 2022)
https://doi.org/10.3897/oneeco.7.e84689 (09 Sep 2022)
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Article metadata
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Introduction and summary: motivation and basic ideas of the Italian approach
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Theoretical premises and link to sustainability literature and policy
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Pluralism of values versus mono-dimensionality in well-being and sustainability measurement
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Monetary valuation and consumption of nature as capital
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Market or institutional failure?
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National accounting and ecosystem services (ESs)
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Centrality and meaning of exchange value (EV)
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Benefits and valuation
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SNA Benefits
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Non-SNA benefits
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Policies determine institutional arrangements (IAs) and these determine prices
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The EV of ESs as a distributional issue
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From monetary values connected to ecosystems and their services to the value of ESs and back
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ESs’ own EVs and other connected EVs
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A key concept: dependency
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Monetary values connected to ESs provided by SEEA EA valuation methods
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Actual EVs of ESs
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Specific observable EVs of ESs
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EVs of similar ESs that are traded
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EVs of ESs embodied in market transactions
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Connected goods and services’ EVs
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Cost of averting behaviour
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Travel expenditure
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Expected expenditure
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Replacement cost
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Avoided damage
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Simulated EV (SEV) method
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Restoration cost and other methods
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Synopsis
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Conclusions and way forward
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References
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Endnotes
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