Recent work by Kahneman and others has led to a new focus in economics on a wellbeing-based approach to utility. This suggests that ‘experienced utility’ is an alternative and more appropriate basis for the measurement of economic value compared with ‘decision utility’. In this paper, we...

Land managers’ preferences towards practice- and outcome-based payments for ecosystem services are analysed using a labelled choice experiment applied to a Mediterranean oak savannah (dehesa or montado) as a case study. Results indicate that land managers prefer outcome- to practice-based...