ABSTRACT
This chapter takes the question: What role can economic analysis play in assuring that the value provided by these ecosystem services is not only recognized, but also protected from degradation? It focuses on refining and improving the methods for quantifying the values received from natural services to increase their reliability and to demonstrate their importance, taking care to identify the specific contributions to human welfare. The chapter promotes the design of private, public, and public– private partnership arrangements as well as incentive mechanisms that can help protect these important components of nature from degradation. Economic analysis is helpful both in identifying sources of economic degradation and in evaluating possible approaches to maintain and restore these services. Coral reefs are an integral part of an extensive and vital landscape of coastal ecosystems. Ecosystem valuation can also help to raise awareness of extremely valuable, but probably underappreciated, ecosystem services, especially when the continuation of those services is threatened.
