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Market‐based conservation: Aligning static theory with dynamic systems

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  • Richard T. Woodward
  • Amanda Stronza
  • Elizabeth Shapiro‐Garza
  • Lee A. Fitzgerald

Abstract

This paper provides a broad evaluation of the implications of market‐based conservation (MBC) strategies from economic, social and ecological perspectives. After reviewing the economic theory that underlies MBC initiatives, we develop a list of approaches that have been labeled as “market‐based”, and categorize them according to the degree to which they are free‐standing markets or require the intervention of the state. A multidisciplinary critique reveals the potential problems and pitfalls of MBC are due to a lack of ability to deal with dynamic systems in the real world. The dynamics of these three systems can undermine the intended goals of MBC.

Suggested Citation

  • Richard T. Woodward & Amanda Stronza & Elizabeth Shapiro‐Garza & Lee A. Fitzgerald, 2014. "Market‐based conservation: Aligning static theory with dynamic systems," Natural Resources Forum, Blackwell Publishing, vol. 38(4), pages 235-247, November.
    • Handle: RePEc:wly:natres:v:38:y:2014:i:4:p:235-247
    DOI: 10.1111/1477-8947.12058
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