There has been growing interest in the use of market-like instruments to achieve cost effective environmental outcomes, and a range of new tools are being explored. While competitive processes such as BushTender have been successfully designed to establish conservation contracts on private land,...

Payments for environmental services (PES) are widely adopted to support the conservation of biodiversity and other environmental goods. Challenges that PES schemes have to tackle are (i) environmental uncertainty and (ii) information asymmetry between the provider of the service (typically a...