Title Subjective Valuation of Ecological Damages: Modeling Human Judgments and Preferences for Changes in Ecosystems within an Integrated Assessment Model
 Collaborators Hadi Dowlatabadi (CMU), Elena Shevliakova (Princeton)
 Keywords climate change, ecological impacts, non-market valuation, climate change, preferences, ecosystem
 Abstract Valuation of ecological impacts of climate change continues to be difficult, uncertain and controversial. First, the magnitude and direction of many ecological impacts remain uncertain. Second, there is considerable disagreement about appropriateness of different metrics. Third, there is a lack of methods that allow adequately characterize and quantify human judgments and preferences about changes in an ecosystem state. In this paper we explore significance of such assumptions for decision-making within Integrated Climate Assessment Model. We have estimated a range of uncertainties in the non-market valuation of ecosystem impacts under different assumptions about uncertainties in the ecological changes and the possible valuation methods. The results of our study suggest that the key assumption in valuing non-market ecosystem impacts is the representation of human preferences.