Behavioural foundation of response policies for ecosystem management: What can we learn from Payments for Ecosystem Services (PES)

The paper evaluates response policies for the management of ecosystem services. It specifically focuses on the implementation of economic response policies and the growing popularity of Payments for Ecosystem Services (PES). Critical aspects of PES are reviewed, such as the measurement of ecosystem services, the valuation of additional services, accountability and trust. This emphasised the importance to include social and cultural contexts of transaction and economic valuation in the design and implementation of PES initiatives. We discuss some of the factors that constrain the use of PES where mediating institutions are not readily available. Finally, the paper highlights elements of the design and implementation of PES schemes that can improve its practical application.