Is the non-market literature adequate to support coastal and marine management?

Abstract

Analysts increasingly look to the literature for estimates of the non-market value of coastal and marine resources. We examine the comprehensiveness, timeliness, geographical completeness, and methodological breadth of the peer-reviewed literature on non-market valuation studies for coastal and ocean resources in the United States. With the exception of beaches and recreational fishing, the literature is generally insufficient to support effective policy-making. Most assets have not been well studied. Values for many assets have not been estimated in recent years, the geographical coverage is incomplete, and the application of methodologies is uneven. We offer recommendations to improve the policy usefulness of the valuation literature.