Aside from the provision of food and resources, the ecosystem functions supply humanity a wide array of services. Hazard reduction is one of these, and its value for communities is gaining rising attention. In the Alpine Space, rockfall and avalanches occur frequently and cause considerable damage, but are significantly mitigated by mountain ecosystems, mainly mountain forests. How to account this service in monetary terms is a current issue and several studies were undertaken with this purpose. This literature review provides a comprehensive overview depicting a "state of the art" of economic evaluation of this ecosystem service, noting their main features, approaches and results. Currently, a common background still does not exist and different studies developed a variety of methods to be adopted, both cost and preference based. We intend this review as a contribution to the increasing awareness of forests as a cost-efficient part of natural hazard management strategies in the Alpine Space.
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