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dc.contributor.authorAlexander P
dc.contributor.authorPaustian K
dc.contributor.authorSmith P
dc.contributor.authorMoran D
dc.date.accessioned2014-12-04T16:54:22Z
dc.date.available2014-12-04T16:54:22Z
dc.date.issued2014
dc.identifier.citation1en_US
dc.identifier.urihttp://dx.doi.org/10.5194/soild-1-1073-2014
dc.identifier.urihttp://hdl.handle.net/11262/10550
dc.descriptionA later version of this paper is available at http://hdl.handle.net/11262/10725en
dc.description.abstractCarbon is a critical component of soil vitality and of our ability to produce food. Carbon sequestered in soils also provides a further regulating ecosystem service, valued as the avoided damage from global climate change. We consider the demand and supply attributes that underpin and constrain the emergence of a market value for this vital global ecosystem service: markets being what economists regard as the most e cient institutions for allocating scarce resources to the supply and consumption of valuable goods. This paper considers how a potentially large global supply of soil carbon sequestration is reduced by economic and behavioural constraints that impinge on the emergence of markets, and alternative public policies that can e ciently transact demand for the service from private and public sector agents. In essence this is a case of significant market failure. In the design of alternative policy options we consider whether soil carbon mitigation is actually cost-e ective relative to other measures in agriculture and elsewhere in the economy, and the nature of behavioural incentives that hinder policy options.We suggest that reducing cost and uncertainties of mitigation through soil-based measures is crucial for improving uptake. Monitoring and auditing processes will also be required to eventually facilitate wide-scale adoption of these measures.en_US
dc.language.isoenen_US
dc.relation.isformatof13868en_US
dc.relation.ispartofSOIL Discussionsen_US
dc.rightsCopyright © Author(s) 2014. This work is distributed under the Creative Commons Attribution 3.0 License.en
dc.subjectCarbon sequestrationen_US
dc.subjectEcosystem servicesen_US
dc.subjectMitigationen_US
dc.subjectSoilen_US
dc.subjectCost-benefit analysisen_US
dc.titleThe economics of soil C sequestrationen_US
dc.typeArticleen_US
dc.description.versionVersion of recorden
dc.extent.pageNumbers1073en_US
dc.extent.pageNumbers1095en_US


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