Farley, Joshua; Costanza, Robert
Payment for Ecosystem Services (PES) is becoming increasingly popular as a way to manage ecosystems using economic incentives. The environmental economics approach to PES tries to force ecosystem services into the market model, with an emphasis on efficiency. The ecological economics approach, in contrast, seeks to adapt economic institutions to the physical characteristics of ecosystem services prioritizing ecological sustainability and just distribution and requiring a transdisciplinary...[Show more]
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