1 TEV (TOTAL ECONOMIC VALUE) ANALYSIS OF A MARINE ENVIRONMENT IN

The push for ecosystem based management has opened up not only for including more of the natural systems when managing fish resources, but also a broader perspective on the human systems, and the diverse activities in the sea. This is reflected for instance in the EU Maritime Policy where fisheries is just one of many activities that marine management must take into account. Research into valuation of natural resources has shown that non-use values may be substantial in the marine environment; These are e.g. existence values, such as the existence of rare species and benthic components such as corals, and option values with regard to potential future applications, e.g. in marine bioprospecting. In addition, indirect use values, such as habitat values, recreational values and nutrient cycling often far exceed the direct use values, which are typically the value of the fisheries, aquaculture and marine tourism. Applying and critiquing the Total Economic Value (TEV) set up, we have estimated marine direct use values, including fisheries and aquaculture, indirect use values and non-use values in Nordland county in Norway, specifically connected to the Lofoten-Vesterålen marine area. Lofoten-Vesterålen is the most important spawning ground for commercial fish resources such as cod and herring, and it is also a very popular tourist destination. Yet when studying some of the other values that the marine environment supplies, these traditional values are not necessarily the most important