The economics of ecosystem services: from local analysis to national policies

► The paper highlights the usefulness and limitation of economic valuation of ecosystem services. ► The paper suggests how to do valuation better so that it can be credible and socially acceptable. ► The paper identifies the challenges in designing a regional or national policies based on upscaling of the microfinding. ► The paper recommends that valuation as tool must have a larger purpose. ► The paper concludes with the caution that no economic valuation should be misconstrued as commodification of nature.