By providing the real-world examples and lessons, the book will guide policy-makers and experts in their efforts in exploring and applying these pathways and tools in the larger context of development policies of nations and the pursuit of a sustainable century.' - From the foreword by Achim Steiner United Nations Under-Secretary-General and Executive Director, United Nations Environment ProgrammeUsing a selection of authoritative and original contributions, this timely book explores the uncertainty surrounding the impact of decisions undertaken to manage ecosystem services worldwide. Invariably, the policies designed and implemented to manage forests, wetlands, and marine and coastal environments often involve conflicts of interest between various stakeholders. This has added an additional layer of complexity in the context of developing countries where institutions and governance are weak or absent. Economic valuation and the subsequent design of innovative response tools such as payment for ecosystem services (PES) have the potential to offer far greater transparency. In the case of LDCs, the identification of suitable institutions for executing these tools is also of vital importance. With a strong policy focus, the contributors synthesize the scientific approaches to PES, valuation, trade-offs, equity and the institutional requirements to operationalize a credible concept of economic value. The book also addresses the behavioral foundations of creating the incentive design and response policies for ecosystem management. This book will prove helpful to ecosystems management researchers and postgraduate students of conservation and development. Conservation managers, decision makers and development practitioners will also find this resource both interesting and beneficial to their work. Contributors: R. Arriagada, I. Bateman, J. Blignaut, A.G. Drucker, A.K. Duraiappah, T. Elmqvist, B. Fisher, J.M. Gowdy, K. Hylander, J. Krishnaswamy, P. Kumar, R. Muradian, U. Narloch, I. Parker, U. Pascual, N. Pazmino, C. Perrings, L.C. Rodriguez, A. Salman, I. Thiaw, R.K. Turner, M. Tuvendal, S. Whitten