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Markets for ecosystem services: Applying the concepts

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  • Whitten, Stuart M.
  • Salzman, James
  • Shelton, Dave
  • Procter, Wendy

Abstract

In recent times, use of market-based instruments to facilitate enhanced protection or production of ecosystem services has achieved a high public profile. However, much work remains to apply these tools in practice. Particular issues include definition and measurement of ecosystem services, development of institutions and mechanisms to facilitate trade and integration of these instruments into the broader natural resource management agenda and toolbox. In this paper these issues are explored with respect to pilot markets for ecosystem services in three case study catchments. Emphasis is placed on pilot selection rationale and identification of key facilitative mechanisms and institutions.

Suggested Citation

  • Whitten, Stuart M. & Salzman, James & Shelton, Dave & Procter, Wendy, 2003. "Markets for ecosystem services: Applying the concepts," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 58269, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare03:58269
    DOI: 10.22004/ag.econ.58269
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    References listed on IDEAS

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    1. Greg Murtough & Barbara Aretino & Anna Matysek, 2002. "Creating markets for ecosystem services," Urban/Regional 0207001, University Library of Munich, Germany.
    2. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    3. Barzel,Yoram, 1997. "Economic Analysis of Property Rights," Cambridge Books, Cambridge University Press, number 9780521597135, February.
    4. Murtough, Greg & Aretino, Barbara & Matysek, Anna, 2002. "Creating Markets for Ecosystem Services," Staff Research Papers 31912, Productivity Commission.
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    Cited by:

    1. Unknown, 2004. "Impacts of Native Vegetation and Biodiversity Regulations," Inquiry Reports 31891, Productivity Commission.

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