**Acknowledgements**

ornamental resources, water supply, and nursery function although other techniques such as factor income, replacement cost, and contingent valuation can also be applied [27]. For cultural services, techniques such as contingent valuation, travel cost, and hedonic pricing are impor‐ tant [27]. With growing emphasis on valuation of grassland goods and services, there is a need to conduct specific studies that will provide values for such goods and services. Such infor‐ mation will further improve the value of grasslands, thus further emphasizing the importance

Grasslands have a multi-functional role, providing food for herbivores as well as other goods and services such as carbon sequestration, nature conservation, and recreation. The goods and services provided by grasslands have direct and indirect monetary value. This study was conducted to a) provide a strategy for assessing the economic value of goods and services from grasslands, b) identify variables that influence the value of grassland goods and services, and c) identify gaps in knowledge which require more information to improve the valuation process. The study was conducted in three stages. Firstly, information regarding grasslands in the Province of Manitoba, Canada was collected based on grass type (native, naturalized or tame/seeded), land use (hay, pasture and other) and ownership (private, crown and nongovernmental organizations). This was followed by identification of goods and services that could be expected from these grasslands. The identified goods and services were then valuated. Market prices were utilized to value grassland goods and services where transactions occur in the marketplace while the benefit transfer method was used to infer monetary values of those goods and services that are not typically sold through the marketplace. Sensitivity analysis was performed to account for market price fluctuation or uncertainties in benefit transfer. The total economic value of Manitoba grasslands was derived by summing economic

Although the study identified 21 goods and services provided by Manitoba grasslands, only perennial forage production, carbon sequestration, nutrient cycling, water regulation, waste treatment, soil erosion control, soil formation, recreation, and wildlife habitat were included in the valuation. Genetic, medicinal, and ornamental resources, water supply, nursery function, biological value, and cultural services, while important, could not be assigned monetary value due to lack of data. The total economic value of Manitoba grasslands was estimated to be approximately \$1,436 million/yr (\$630 ha/yr), with a range of \$1,203 million/yr (\$527 ha/yr) to \$1,880 million/yr (\$810 ha/yr). The two most highly valued goods and services in Manitoba grasslands were perennial forage production and carbon sequestra‐ tion. Multidisciplinary research, focusing on economic valuation of non-market goods and services will provide more relevant transfer values than those obtained from other ecosystems

This study shows that goods and services in complex ecosystems such as temperate grasslands can be valued using market and non-market based valuation methods. Improvements in

values of goods and services for which supporting data was available.

and will greatly improve estimates of grassland value.

of maintaining productive grasslands.

**5. Conclusion**

164 Agroecology

This study was funded by Beef Cattle Research Council (BCRC), Manitoba Beef Producers, Canada Manitoba Agri-food Research and Development Initiative (ARDI), MITACS, Green‐ Cover, and Manitoba Rural Adaptation Council (MRAC). The authors would like to extend sincere appreciation to Bill Gardner (MAFRI), Glen Friesen (MAFRI), Don Flaten (University of Manitoba), Rick Andrews (Ducks Unlimited), and Wybo Vanderschuit (Riding Mountain National Park) for sharing their insights on Manitoba grasslands.
