Market land prices ignore the non-market value of ecosystem goods and services; hence, too much agricultural land may be developed. Correct land valuation must include these non-market values. Values of ecosystem services provided by the Richland-Chambers constructed wetlands are assessed through meta-analysis to derive confidence intervals for the willingness-to-pay (WTP) for wetland services. Replacement costs are also used to estimate cost savings of creating wetlands to cleanse river water instead of constructing a conventional wastewater treatment facility. Benefit transfer is used to estimate WTP for non-market agricultural land amenities. Ecosystem services of runoff in the western and recharge in the eastern part of Comal County based on hydrological models are also calculated. Finally, seemingly unrelated regression is used to quantify the effects of growth on current agricultural land values in Texas. Using two different meta-analysis transfer functions, mean WTP for the Richland-Chambers wetlands are $843 and $999 / acre / year. Estimated 95% confidence interval is $95 to $7,435 / acre / year. This confidence interval clearly indicates the uncertainty associated with valuing ecosystem goods and services. The replacement cost of the Richland?Chambers constructed wetlands is estimated to be $1,688 / acre / year. Aggregate WTP to preserve farm and ranchland non-market amenities in Comal County is estimated to be $1,566 / acre. Using hydrologic models, the runoff is valued at $79 / acre, whereas, recharge value is $1,107 / acre. Development will cause a change in recharge, runoff, and pollution which will decrease societal welfare by $1,288 / acre. Seemingly unrelated regression results show that a percentage increase in population growth in the closest metropolitan statistical area (MSA) is associated with increases in land values of approximately $2 / acre. A one-mile increase in distance from the nearest MSA decreased land values by $4 / acre in 1997, $6 / acre in 2002, and $8 / acre in 2007. The diversity of studies illustrates that a cookbook type of methodology is not appropriate for valuing ecosystem goods and services. On the other hand, development contributes positively to land values through encroachment on agricultural lands.

The marine environment provides essential ecosystem services that are critical to the functioning of the earth’s life support system and the maintenance of human well-being. Marine Protected Areas (MPAs) are recognised as being the mechanism though which marine natural capital may be conserved. This thesis focuses on the value associated with marine conservation in a case study area, Lyme Bay, England where a ‘closed area’ was created in 2008. A review of literature spanning 20 years shows that despite sound ecological knowledge of a marine area, the reliance on traditional neo-classical economic valuations for marine spatial planning can obscure other issues pertinent to the ecosystem approach. A further valuation of the marine leisure and recreation industry shows that the industry is of economic significance and that the MPA enables the protection of the most valuable sites but has limited benefits for protecting the full resource base. In terms of ecological value, a ‘service orientated framework’ was developed to enable decision makers to understand the links between benthic species, ecological function and indirect ecosystem services. Results spatially identify which ecosystem services occur and demonstrate the value of the MPA in ensuring delivery of these ecosystem services. In relation to the social value of the MPA the research reveals that support for the MPA is strong amongst the majority of stakeholder groups. Values are expressed as the economic, environmental and social benefits of the MPA. However, there have been clear social costs of the MPA policy and these have been borne by mobile and static gear fishermen and charter boat operators. Each valuation methodology can inform decision making. Though, if ecosystem service valuation is to become a deliberative tool for marine conservation and planning, then there is a need for a larger societal discussion on what activities and trade-offs society considers acceptable.