Chu, Long; Grafton, Quentin; Keenan, Rodney
A key challenge in designing Payment for Environmental Services (PES) programs is to balance conservation efficiency with equity where, typically, decision makers do not have practical and quantitative tools to consider the possible trade-offs. Here, we propose a policy-relevant and implementable ‘win-settle’ model that allows PES decision makers to maximize efficiency while considering the distributive equity associated with beneficiary payments. To demonstrate our approach, we calibrate the...[Show more]
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