Recent revisions to the theory and definition of payments for ecosystem services (PES) challenge the generally accepted dominance of direct incentives provided in a buyer–seller relationship. The revisionist thinking insists indirect incentives and a cooperative, reciprocal relationship are...

The original conceptualization of payments for ecosystem services (PES) promoted direct payments to motivate the provision of environmental public goods, but market imperfections and behavioral considerations can mean that PES that reduce market constraints are preferred. The main issue with the...