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Deep-sea ecosystems are facing degradation which could have severe consequences for biodiversity and the livelihoods of coastal populations. Ecosystem restoration as a natural based solution has been regarded as a useful means to recover ecosystems. The study provides a social cost-benefit analysis for a proposed project to restore the Dohrn Canyon cold water corals and the deep-sea ecosystem in the Bay of Naples, Italy. By incorporating ecosystem service benefits and uncertainties related to a complex natural-technological-social system surrounding restoration activities, the study demonstrated how to evaluate large-scale ecosystem restoration activities. The results indicate that an ecosystem restoration project can be economic (in terms of welfare improvement) even if the restoration costs are high. Our study shows the uncertainty associated with restoration success rate significantly affects the probability distribution of the expected net present values. Identifying and controlling the underlying factors to improve the restoration successful rate is thus crucial. • Apply SCBA to evaluate large-scale ecosystem restoration activities. • Large-scale deep-sea ecosystem restoration can be economic even if costs are high. • Important to consider uncertainties surrounding complex restoration situations. • Use a Markov model to tackle uncertainties associated with restoration success rate. • Parameter uncertainty affects the probability distribution of net present value. [ABSTRACT FROM AUTHOR]

It is increasingly recognized that restoration actions in marine environments are required in order to deal with continued habitat degradation and to support conservation strategies. Restoration success is judged on the ecological outcomes but with limited resources the magnitude of the societal benefits achieved is an important consideration for policy makers. This study demonstrates how the potential non-market benefit value of a deep-sea restoration project might be assessed. The contingent valuation method is employed to elicit the Italian population's willingness to pay for the restoration of the Dohrn deep-sea canyon in the Bay of Naples. Sample selection models that control for the impact of protest zero bidders on benefit value estimation are compared to more traditional modelling approaches. The results indicate a positive willingness to pay for the restoration of the canyon ecosystem and the importance of accounting for protest zero bidders in contingent valuation studies, especially when the environmental good is unfamiliar to respondents. The paper argues that the inclusion of non-market benefit values is particularly important in assessing the potential for marine ecosystem restoration if a true reflection of the value to society of restoring such habitats are to be correctly captured. • Ecological restoration creates value by increasing delivery of ecosystem services. • Significant societal benefit value from restoring deep-sea canyon ecosystems. • Controlling for sample selection in CVM important in presence of protest bidders. [ABSTRACT FROM AUTHOR]