Signalling the Values of Wetlands

Abstract

The successful coordination of human activity requires the establishment and enforcement of rules. Ownership rules for the conservation of wetlands are either absent or inadequate. This means that signals regarding the values held by the wider community for wetland conservation are not received effectively by landholders who can provide those values. Hence the incentives for landholders to conserve their wetlands are weak in comparison to those they receive to use their wetland resources for extractive purposes. To illustrate the importance of wetland protection values, the findings of a number of valuation exercises are presented. A range of mechanisms designed to act as signalling and incentive generation devices in the absence of strong ownership rules for wetland conservation benefits is provided.