Froger G. auteur aut IRD Boisvert Valérie auteur aut IRD Méral Philippe auteur aut IRD Le Coq J. F. auteur aut IRD Caron A. auteur aut IRD Aznar O. auteur aut IRD text journalArticle eng text/pdf born digital access Since the mid-1990s, the concept of ecosystem services has become increasingly popular in academic circles and among decision-makers. Because of its inclusive character, this concept has given rise to different interpretations in economics. Since its inception, it has been associated with the development of market-based instruments (MBIs) in conservation policies. From this perspective, the sustainable provision of ecosystem services is hindered by market failures (e.g., public good attributes, externalities) and prices that do not capture the full value of the natural assets. MBIs are therefore recommended. According to their promoters, they provide powerful incentives to conserve the environment while at the same time offering new sources of income to support rural livelihoods. Our paper contends that different economic narratives, and associated representations of the market failure at stake with the provision of ecosystem services, may support different policy instruments that are all coined as MBIs. As an illustration, we analyze the economic discourse underlying payments for ecosystem services and eco-labels, and we underline the variety of institutional forms to which they give rise in order to emphasize the differences between discourse and practice. specialized market-based instruments ecosystem services externalities joint products narratives payments for ecosystem services environmental certification 098 082 7 9 11595-11611 2015 2071-1050 https://www.documentation.ird.fr/hor/fdi:010065413 10.3390/su70911595 2071-1050 [F B010065413] https://www.documentation.ird.fr/hor/fdi:010065413 https://www.documentation.ird.fr/intranet/publi/2015/11/010065413.pdf Accès réservé (Intranet de l'IRD) IRD - Base Horizon / Pleins textes 2015-12-04 2021-06-23 fdi:010065413 fre