Ecosystem Services: From Bio-physical to Economic Values

When speaking about sustainability in urban and territorial transformations, many dimensions have to be taken into account, thus asking for integrated approaches able to support complex decision-making processes. As it is well known, economic development has an ecological cost; for this reason, it is relevant to investigate the link existing between ecology and economics when addressing territorial planning and environmental policies. A very promising theory in this context is provided by the notion of Ecosystem Services (ESs) that have been defined as the benefits that humans derive, directly or indirectly, from ecosystem functions. More specifically, the article explores the perspectives offered by the application of the Life Satisfaction Approach (LSA) in the estimation of the economic benefits delivered by ESs, proposing an innovative methodological path linking biophysical and economic values.