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 |
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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