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Demand-side Value for Ecosystem Services and Implications for Innovative Markets: Experimental Perspectives on the Possibility of Private Markets for Public Goods

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  • Swallow, Stephen K.

Abstract

Environmental economists invest in measuring the value of the environment but put less effort toward integrating that value directly into the economy. Experimental economists evaluate the performance of mechanisms to fund public goods but in some cases offer limited insight into practical implications for developing markets. This discussion presents initial insights into applying mechanisms for private provision of public goods based on demand-side values rather than regulatory-based market incentives such as cap-and-trade policies. Consideration of mechanisms to generate revenue inspires field tests that could direct experiments using threshold public goods and Lindahl's framework toward applications that transform value into revenue.

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  • Swallow, Stephen K., 2013. "Demand-side Value for Ecosystem Services and Implications for Innovative Markets: Experimental Perspectives on the Possibility of Private Markets for Public Goods," Agricultural and Resource Economics Review, Cambridge University Press, vol. 42(1), pages 33-56, April.
    • Handle: RePEc:cup:agrerw:v:42:y:2013:i:01:p:33-56_00
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    Cited by:

    1. Uchida, Emi & Swallow, Stephen K. & Gold, Arthur J. & Opaluch, James & Kafle, Achyut & Merrill, Nathaniel H. & Michaud, Clayton & Gill, Carrie Anne, 2018. "Integrating Watershed Hydrology and Economics to Establish a Local Market for Water Quality Improvement: A Field Experiment," Ecological Economics, Elsevier, vol. 146(C), pages 17-25.
    2. Li, Zhi & Liu, Pengfei & Swallow, Stephen K., "undated". "Supporting Private Provision of Ecosystem Services through Contracts: Evidence from Lab and Field Experiments," 2018 Allied Social Sciences Association (ASSA) Annual Meeting, January 5-7, 2018, Philadelphia, Pennsylvania 266300, Agricultural and Applied Economics Association.
    3. Pengfei Liu & Stephen K. Swallow & Christopher M. Anderson, 2016. "Threshold-Level Public Goods Provision with Multiple Units: Experimental Effects of Disaggregated Groups with Rebates," Land Economics, University of Wisconsin Press, vol. 92(3), pages 515-533.
    4. Bauer, Dana Marie & Johnston, Robert J., 2013. "Foreword: The Economics of Rural and Agricultural Ecosystem Services: Purism versus Practicality," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(01), pages 1-13, April.
    5. Swallow, Stephen K. & Anderson, Christopher M. & Uchida, Emi, 2018. "The Bobolink Project: Selling Public Goods From Ecosystem Services Using Provision Point Mechanisms," Ecological Economics, Elsevier, vol. 143(C), pages 236-252.
    6. Li, Zhi & Liu, Pengfei & Swallow, Stephen K., 2014. "Assurance Payments for Multi-Unit Public Goods Provision: Experiments Motivated by Ecosystem Service Markets," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170675, Agricultural and Applied Economics Association.
    7. Li, Zhi & Anderson, Christopher M. & Swallow, Stephen K., 2016. "Uniform price mechanisms for threshold public goods provision with complete information: An experimental investigation," Journal of Public Economics, Elsevier, vol. 144(C), pages 14-26.

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