Author
Ralph C. d'Arge
Bio: Ralph C. d'Arge is an academic researcher from University of Wyoming. The author has contributed to research in topics: Valuation (finance) & Contingent valuation. The author has an hindex of 8, co-authored 10 publications receiving 3196 citations.
Papers
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University of Maryland, College Park1, University of Maryland Center for Environmental Science2, University of Wyoming3, University of Pittsburgh4, University of Illinois at Urbana–Champaign5, University of Minnesota6, Oak Ridge National Laboratory7, University of Buenos Aires8, Jet Propulsion Laboratory9, National Center for Geographic Information and Analysis10
TL;DR: This paper provided a crude initial estimate of the value of ecosystem services to the economy using data from previous published studies and a few original calculations, and estimated the current economic value of 17 ecosystem services for 16 biomes.
2,592 citations
TL;DR: In this article, an iterative bidding technique was used to elicit honest bids for environmental goods not priced in formal markets, and the authors explored the linkages between the physical parameters of visibility and representation of the good called visibility to individuals for valuation purposes.
349 citations
University of Maryland Center for Environmental Science1, University of Wyoming2, University of Pittsburgh3, University of Maryland, College Park4, University of Illinois at Urbana–Champaign5, University of Minnesota6, Oak Ridge National Laboratory7, University of Buenos Aires8, Jet Propulsion Laboratory9, National Center for Geographic Information and Analysis10
TL;DR: In this paper, the authors present an overview of the work of the Institute for Ecological Economics at the University of Maryland and its relationship with the National Center for Geographic Information and Analysis (NCSA).
282 citations
TL;DR: In this paper, the authors provide an investigation of several approaches to valuing ecosystem services and to contribute additional techniques which may be used in evaluating green GDP accounts, focusing on the ecosystem as a productive economic input, not a stock which is depreciated or depleted over time.
53 citations
TL;DR: In this article, a model describing the potential for intergenerational transfers under the uncertainty of climate change due to fossil fuel combustion is presented, and the authors conclude that inter-generational compensation can be achieved by investment in capital or technology, or by bequest, and is ethically required regardless of any other action.
37 citations
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TL;DR: A series of decision-making experiments showed that individuals disproportionately stick with the status quo as mentioned in this paper, that is, doing nothing or maintaining one's current or previous decision, and that this bias is substantial in important real decisions.
Abstract: Most real decisions, unlike those of economics texts, have a status quo alternative—that is, doing nothing or maintaining one's current or previous decision. A series of decision-making experiments shows that individuals disproportionately stick with the status quo. Data on the selections of health plans and retirement programs by faculty members reveal that the status quo bias is substantial in important real decisions. Economics, psychology, and decision theory provide possible explanations for this bias. Applications are discussed ranging from marketing techniques, to industrial organization, to the advance of science.
4,817 citations
TL;DR: In this paper, the authors provided an updated estimate based on updated unit ecosystem service values and land use change estimates between 1997 and 2011, using the same methods as in the 1997 paper but with updated data, the estimate for the total global ecosystem services in 2011 is $125 trillion/yr (assuming updated unit values and changes to biome areas).
Abstract: In 1997, the global value of ecosystem services was estimated to average $33 trillion/yr in 1995 $US ($46 trillion/yr in 2007 $US). In this paper, we provide an updated estimate based on updated unit ecosystem service values and land use change estimates between 1997 and 2011. We also address some of the critiques of the 1997 paper. Using the same methods as in the 1997 paper but with updated data, the estimate for the total global ecosystem services in 2011 is $125 trillion/yr (assuming updated unit values and changes to biome areas) and $145 trillion/yr (assuming only unit values changed), both in 2007 $US. From this we estimated the loss of eco-services from 1997 to 2011 due to land use change at $4.3–20.2 trillion/yr, depending on which unit values are used. Global estimates expressed in monetary accounting units, such as this, are useful to highlight the magnitude of eco-services, but have no specific decision-making context. However, the underlying data and models can be applied at multiple scales to assess changes resulting from various scenarios and policies. We emphasize that valuation of eco-services (in whatever units) is not the same as commodification or privatization. Many eco-services are best considered public goods or common pool resources, so conventional markets are often not the best institutional frameworks to manage them. However, these services must be (and are being) valued, and we need new, common asset institutions to better take these values into account.
3,932 citations
TL;DR: In this paper, the Coase theorem predicts that about half the mugs will trade, but observed volume is always significantly less than the predicted volume, suggesting that transactions costs cannot explain the undertrading for consumption goods.
Abstract: Contrary to theoretical expectations, measures of willingness to accept greatly exceed measures of willingness to pay. This paper reports several experiments that demonstrate that this "endowment effect" persists even in market settings with opportunities to learn. Consumption objects (e.g., coffee mugs) are randomly given to half the subjects in an experiment. Markets for the mugs are then conducted. The Coase theorem predicts that about half the mugs will trade, but observed volume is always significantly less. When markets for "induced-value" tokens are conducted, the predicted volume is observed, suggesting that transactions costs cannot explain the undertrading for consumption goods.
3,625 citations
Book•
24 Nov 2003
TL;DR: The Millennium Ecosystem Assessment (MEA) as discussed by the authors is a conceptual framework for analysis and decision-making of ecosystems and human well-being that was developed through interactions among the experts involved in the MA as well as stakeholders who will use its findings.
Abstract: This first report of the Millennium Ecosystem Assessment describes the conceptual framework that is being used in the MA. It is not a formal assessment of the literature, but rather a scientifically informed presentation of the choices made by the assessment team in structuring the analysis and framing the issues. The conceptual framework elaborated in this report describes the approach and assumptions that will underlie the analysis conducted in the Millennium Ecosystem Assessment. The framework was developed through interactions among the experts involved in the MA as well as stakeholders who will use its findings. It represents one means of examining the linkages between ecosystems and human well-being that is both scientifically credible and relevant to decision-makers. This framework for analysis and decision-making should be of use to a wide array of individuals and institutions in government, the private sector, and civil society that seek to incorporate considerations of ecosystem services in their assessments, plans, and actions.
2,427 citations
TL;DR: In this article, sustainable business models (SBM) incorporate a triple bottom line approach and consider a wide range of stakeholder interests, including environment and society, to drive and implement corporate innovation for sustainability, can help embed sustainability into business purpose and processes, and serve as a key driver of competitive advantage.
2,360 citations