Ben is primarily focused on the design, implementation and evaluation of markets for Nature Based Solutions.

Dr Ben Balmford

Postdoctoral Research Fellow, University of Exeter

Biography

Ben came to economics from the natural sciences. Motivated by a passion for the natural world, he first pursued an undergraduate degree in Biological Sciences at the University of Oxford. His first publications were therefore focused on biology. While he found his degree fascinating, it became clear that issues of overexploitation were problems that science alone could not solve; rather, solutions would depend on a better understanding of human behaviour and incentives.

During his PhD at the University of Exeter, Ben’s research shifted towards understanding how institutions can be developed to better support the efficient use of the natural environment. His work focused on developing incentive schemes for pollution regulation and designing markets for the trade of environmental services. This market design work has continued through his postdoctoral research within the Dragon Capital Team, and into his current work, alongside a growing research agenda that explores the drivers of natural resource management policy, particularly in the context of tropical forests.

Research Interests

Ben’s research is primarily focused on mechanism and market design in the context of environmental management, a line of inquiry that began during his PhD and continued through his postdoctoral research into his current role as an assistant professor. His early work concentrated on designing incentive schemes and markets for environmental services, with the goal of promoting more efficient and sustainable use of natural resources.

Over time, his research agenda has expanded to include the study of forest dynamics and environmental policy, particularly in tropical regions. Indeed, a central focus of his recent work has been understanding additionality and leakage, especially in the context of South American forests.

He employs a range of methods, beginning with simple models that capture the essence of the problem, which he then integrates with empirical data—drawn from laboratory experiments, randomized controlled trials (RCTs), or quasi-experimental settings. Ben’s research is motivated by a strong interest in shaping effective and evidence-based environmental policy, aiming to inform the design of institutions and interventions that better align incentives of private actors with the interests of society at large.

Key Papers

Incentivising efficient effort when monitoring individuals is costly

Journal of the Association of Environmental and Resource Economists (2025)

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Time to fix the biodiversity leak

Science (2025)

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Pricing rules for PES auctions: Evidence from a natural experiment

Journal of Environmental Economics and Management (2023)

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Cross-Country Comparisons of Covid-19: Policy, Politics and the Price of Life

Environmental and Resource Economics (2020)

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How imperfect can land sparing be before land sharing is more favourable for wild species?

Journal of Applied Ecology (2020)

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Featured Dragon Projects


Photograph: Photo 57289374 © Adalbertus | Dreamstime.com

The economics of biodiversity additionality (BIOADD)

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Photograph: Frank, Unsplash

Auction design for the provision of environmental services

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Photograph: Brendan Church, Unsplash 

Designing markets for bundled environmental goods

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