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Can payments for ecosystem services schemes mimic markets?

Scheufele, Gabriela; Bennett, Jeffrey

Description

A Payments for Ecosystem Services (PES) scheme can be understood as a mechanism that performs the role of a ‘market’ for Ecosystem Services (ES) in circumstances where such a market would otherwise fail to develop. We investigate the potential for and limits of PES schemes to act in lieu of competitive markets and propose a PES scheme design that mimics markets. This is achieved by applying their underpinning concepts of demand and supply to the determination of ‘market clearing’ prices, while...[Show more]

CollectionsANU Research Publications
Date published: 2017
Type: Journal article
URI: http://hdl.handle.net/1885/233355
Source: Ecosystem Services
DOI: 10.1016/j.ecoser.2016.11.005

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