Gravitational natural hazards: Valuing the protective function of Alpine forests

Forests produce significant non-market benefits by protecting residential and commercial real estate as well as all kinds of infrastructure (e.g. rail tracks, highways, power lines) against gravitational natural hazards such as avalanches, mudslides, and rockfall. The Austrian Federal Forests (Österreichische Bundesforste – ÖBf) recently commissioned a research project on the valuation of this ecosystem service by means of the replacement cost method and the hedonic pricing approach.