Extending Value of Information Methods to Include the Co-Net Benefits of Earth Observations

Abstract:

The widening relevance of Earth observations information across the spectrum of natural and environmental resources markedly enhances the value of these observations. An example is observations of forest extent, species composition, health, and change; this information can help in assessing carbon sequestration, biodiversity and habitat, watershed management, fuelwood potential, and other ecosystem services as well as inform the opportunity cost of forest removal for alternative land use such as agriculture, pasture, or development. These “stacked” indicators or co- net benefits add significant value to Earth observations. In part because of reliance on case studies, much previous research about the value of information from Earth observations has assessed individual applications rather than aggregate across applications, thus tending to undervalue the observations. Aggregating across applications is difficult, however, because it requires common units of measurement: controlling for spatial, spectral, and temporal attributes of the observations; and consistent application of value of information techniques. This paper will discuss general principles of co-net benefit aggregation and illustrate its application to attributing value to Earth observations.