ABSTRACT
The purpose of Chapter 3 is to provide readers and users with an introduction to the valuation of benefits related to PAs and build on the common theory and approach for socio-economic valuation of biodiversity and ecosystem services. It presents an overview of the framework for (economic) valuation by outlining different terms and commonly used methods. The chapter focuses on explaining the logic and economic principles of valuation in clear, practical terms to help avoid some of the ‘mystique’ surrounding valuation methods.
