Stasi A.Pellegrino A.Mahidol University2023-09-122023-09-122023-01-01Review of Economics and Finance Vol.21 (2023) , 869-88119237529https://repository.li.mahidol.ac.th/handle/123456789/89996This article proposes an extensive investigation of the prevailing methodologies of environmental valua-tion, offering a comprehensive synthesis and critical assessment of the literature. A bibliometric analysis of 531 arti-cles revealed a higher prevalence of stated preference methods over revealed preference methods. However, a nota-ble lack of consensus was identified regarding the valuation of ecosystem services, reflecting the varied individual preferences towards different types of benefits. The main contribution of the study lies in the critical evaluation of these valuation methodologies, exposing their discrepancies and areas for enhancement. This work sets a new benchmark for future research, promoting a comprehensive understanding of the benefits of ecosystems and foster-ing the integration of various valuation methods. Future research should explore the incorporation of machine learn-ing techniques to more effectively analyze and utilize the large amounts of data being collected.Economics, Econometrics and FinanceArticleSCOPUS10.55365/1923.x2023.21.952-s2.0-8516979809219238401