This paper gives an overview of the value of ecosystem services of 10 main biomes expressed in monetary units. In total, over 320 publications were screened covering over 300 case study locations. Approximately 1350 value estimates were coded and stored in a searchable Ecosystem Service Value Database (ESVD). A selection of 665 value estimates was used for the analysis. Acknowledging the uncertainties and contextual nature of any valuation, the analysis shows that the total value of ecosystem services is considerable and ranges between 490 int$/year for the total bundle of ecosystem services that can potentially be provided by an ?average? hectare of open oceans to almost 350,000 int$/year for the potential services of an ?average? hectare of coral reefs. More importantly, our results show that most of this value is outside the market and best considered as non-tradable public benefits. The continued over-exploitation of ecosystems thus comes at the expense of the livelihood of the poor and future generations. Given that many of the positive externalities of ecosystems are lost or strongly reduced after land use conversion better accounting for the public goods and services provided by ecosystems is crucial to improve decision making and institutions for biodiversity conservation and sustainable ecosystem management.Peer reviewe

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[1] The values of goods and services provided by wetland ecosystems are examined through a meta-analysis of an expanded database of wetland value estimates and with a focus on human-made wetlands. This study extends and improves upon previous meta-analyses of the wetland valuation literature in terms of the number of observations, geographical coverage, wetland class and integrity, and the measurement of the effects of scarcity and anthropogenic pressure. We find that water quality improvement, nonconsumptive recreation, and provision of natural habitat and biodiversity are highly valued services. Substitution effects are observed through the negative correlation between values and abundance of other wetlands. Wetland values are found to increase with anthropogenic pressure. An extended metaregression model with cross effects shows that the valuation of specific services varies with the type of wetland producing them. Humanmade wetlands are highly valued for biodiversity enhancement, water quality improvement, and flood control.