Abstract
A valuation scenario was designed using a contingent-valuation approach and presented to decision makers in business firms in Kenya’s Lake Naivasha basin to test how applicable a water fund might be as a potential financing mechanism for a payment for water-related ecosystem services scheme. The findings indicate that measuring a firm’s willingness to invest in ecosystem services could help determine whether a firm would invest and engage with other stakeholders to pool their investments in ecosystem services. Linking the institutional decision-making behaviour of a firm and its willingness to invest in a water fund is the novelty of this article.
| Original language | English |
|---|---|
| Pages (from-to) | 463-482 |
| Journal | Water International |
| Volume | 40 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2015 |
Keywords
- tropical forestry projects
- environmental services
- market actors
- payments
- management
- behavior
- private
- choice
- impact