Valuing ecosystem services from restoring ancient irrigation systems: An application comparing labor vs. monetary payments for choice experiments

Could Payments for Ecosystem Services Create an "Ecosystem Service Curse"?

Payments for ecosystem services (PES) have received much praise and are increasingly perceived as a promising tool to ensure the protection of global ecosystems as well as being able to help alleviate poverty in areas rich in ecosystem services. Given current trends, the scale of payments is likely to grow, creating new circumstances within which ecosystem services will be managed. In this dyna...

Valuing Ecosystem Services

We develop the economist’s concept of value as opportunity cost and discuss the ways in which decisions imply values through revealed preference. We distinguish between the ideas of incremental and total value and argue that only the former is of importance in practical decision-making. The relationship between price and value is articulated and related to the distinction between public and pri...

Revealing pathways from payments for ecosystem services to socioeconomic outcomes

Center for Systems Integration and Sustainability, Department of Fisheries and Wildlife, Michigan State University, East Lansing, MI 48823, USA. College of Environmental and Resource Sciences, Zhejiang University, Hangzhou, Zhejiang Province 310058, China. Key Laboratory of Southwest China Wildlife Resources Conservation,Ministry of Education, ChinaWest Normal University, Nanchong, Sichuan Prov...

Payments for ecosystem services: From local to global

Payments systems and monetary policy

A dynamic spatial model is constructed where there is a role for money and for centralized payments arrangements, and where there are aggregate fluctuations driven by fluctuations in aggregate productivity. With decentralized monetary exchange and no centralized payments arrangements, there is price level indeterminacy, and the equilibrium allocation is inefficient. A private clearinghouse arra...