Despite the recent popularity of conditional cash transfers (CCT) and payments for environmental services (PES) programs, what determines their success is not well understood. We developed a conceptual framework to give insight into some of the main determinants of CCT and PES program efficiency...

We develop a conceptual framework elucidating the main determinants of the impact of Conditional Cash Transfer (CCT) and Payments for Environmental Services (PES) programs. Using a simple multi-agent model and evaluations of existing programs, we show that (1) the share of the population who...