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Economics of Ecosystem Services: Val...

Hamilton, Luke Ulijas.

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Economics of Ecosystem Services: Valuation of Open Space and Residential Development.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Economics of Ecosystem Services: Valuation of Open Space and Residential Development./
Author:	Hamilton, Luke Ulijas.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	146 p.
Notes:	Source: Masters Abstracts International, Volume: 81-04.
Contained By:	Masters Abstracts International81-04.
Subject:	Environmental economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13879048
ISBN:	9781392473894

Economics of Ecosystem Services: Valuation of Open Space and Residential Development.
Hamilton, Luke Ulijas.

Economics of Ecosystem Services: Valuation of Open Space and Residential Development. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 146 p.

Source: Masters Abstracts International, Volume: 81-04.

Thesis (M.Sc.S.E.)--Villanova University, 2019.

This item must not be sold to any third party vendors.

Ecosystem services being monitored and studied provide significant opportunity to be captured for the economic value they provide. As open space throughout Southeastern Pennsylvania continues to be developed for single family residential homes, the ecosystem services that these open spaces provide will be threatened. The question behind this research is if ecosystem services economic value and tax revenue gained from open space are greater than the ecosystem services value and the annual tax revenue gained from conventional development. The purpose of this research was to look at ecosystem services value at a micro level and examine how their presence can benefit the surrounding community environmentally and economically. The economic value tied with ecosystem services help illustrate their importance to community members to help foster future sustainable development.Idlewild Farm an open space park in Lower Merion Township, PA was studied for the ecosystem services the land provides and their associated economic worth. Idlewild Farm was then examined under conventional development standards imagining 20 single family homes being built on 20.5 acres of open space. Ecosystem services present after development were analyzed and valued for their economic worth. The life cycle analysis of conventional residential housing was examined for the economic and environmental changes it provides and was compared to the benefits open space provides.The 20.5 acre open space study site Idlewild Farm was found to provide over $250,000 in ecosystem services annually. The ecosystem services found in open space that provided the greatest economic value were aesthetic ($173,222), recreational / health ($27,000), and storm water runoff avoidance ($18,510). The ecosystem services value after the 20.5 acres was converted into residential development would be a drain to the community for over $115,000 annually. The $250,000 of net environmental benefits found on site provide over 2,500 tons CO2 sequestration and storage equivalent to offsetting the environmental damage caused by a 50 year life cycle of 2.5 standard built homes and 6.85 energy efficient homes.

ISBN: 9781392473894Subjects--Topical Terms:

535179
Environmental economics.
Subjects--Index Terms:

Carbon sequestration

Economics of Ecosystem Services: Valuation of Open Space and Residential Development.
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245 1 0 $a Economics of Ecosystem Services: Valuation of Open Space and Residential Development.
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300 $a 146 p.
500 $a Source: Masters Abstracts International, Volume: 81-04.
500 $a Advisor: Lee, Ross;Olson, John.
502 $a Thesis (M.Sc.S.E.)--Villanova University, 2019.
506 $a This item must not be sold to any third party vendors.
520 $a Ecosystem services being monitored and studied provide significant opportunity to be captured for the economic value they provide. As open space throughout Southeastern Pennsylvania continues to be developed for single family residential homes, the ecosystem services that these open spaces provide will be threatened. The question behind this research is if ecosystem services economic value and tax revenue gained from open space are greater than the ecosystem services value and the annual tax revenue gained from conventional development. The purpose of this research was to look at ecosystem services value at a micro level and examine how their presence can benefit the surrounding community environmentally and economically. The economic value tied with ecosystem services help illustrate their importance to community members to help foster future sustainable development.Idlewild Farm an open space park in Lower Merion Township, PA was studied for the ecosystem services the land provides and their associated economic worth. Idlewild Farm was then examined under conventional development standards imagining 20 single family homes being built on 20.5 acres of open space. Ecosystem services present after development were analyzed and valued for their economic worth. The life cycle analysis of conventional residential housing was examined for the economic and environmental changes it provides and was compared to the benefits open space provides.The 20.5 acre open space study site Idlewild Farm was found to provide over $250,000 in ecosystem services annually. The ecosystem services found in open space that provided the greatest economic value were aesthetic ($173,222), recreational / health ($27,000), and storm water runoff avoidance ($18,510). The ecosystem services value after the 20.5 acres was converted into residential development would be a drain to the community for over $115,000 annually. The $250,000 of net environmental benefits found on site provide over 2,500 tons CO2 sequestration and storage equivalent to offsetting the environmental damage caused by a 50 year life cycle of 2.5 standard built homes and 6.85 energy efficient homes.
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