In the context of decision making, the main challenge is the assessment of changes in natural capital stocks due to conversion of ecosystems for development purposes. Ecosystems are basically a spatial concept, so the natural approach is to use GIS to evaluate land cover changes. Basic economic...

The natural capital concept is generating broad interest that extends well beyond economists. Economics has a long history of applying capital theory to natural resources. However, measurement of the value of ecosystems has mostly focused on income flows rather than valuing stocks of natural...