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Robert Costanza briefly present various methods of environmental valuation, and talks about the changes in the global value of ecosystem services. He then introduces the major ecosystem services, and how different methods of valuation affect the preferred policies to address environmental issues.
This lecture touches upon the controversial topic of economic valuation of the environment. The content of this lecture is based on a 2014 Article published in Global Environmental Change that is not open access (doi: j.gloenvcha.2014.04.002).