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Payment for Environmental Services: Hypotheses and Evidence.

Annu Rev Resour Economics 2013 Jun;5(1):139-159

Institute of Behavioral Science, University of Colorado, Boulder, Colorado 80309 ; Department of Economics, University of Colorado, Boulder, Colorado 80309.

The use of payment for environmental services (PES) is not a new type of contract, but PES programs have become more in vogue because of the potential for sequestering carbon by paying to prevent deforestation and degradation of forestlands. We provide a framework utilizing transaction costs to hypothesize which services are more likely to be provided effectively. We then interpret the literature on PES programs to see the extent to which transaction costs vary as predicted across the type of service and to assess the performance of PES programs. Read More

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http://dx.doi.org/10.1146/annurev-resource-091912-151830DOI Listing
June 2013
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