Correcting market imperfections where they exist and creating new markets for biodiversity where possible emphasises the social objective of maximising net benefits (to everyone). Markets can, by themselves, result in the right amount of use or conservation of biodiversity-related resources when they reflect the full value to society of public goods, and when all externalities associated with their use are fully reflected in management decisions. Trading in (illegal) products from endangered species, for example, highlights the potential adverse consequences of markets that do not take account of public values and externalities. Correcting such problems will ensure that the market’s use of resources will result in a net gain to society as a whole. Implementing a market creation agenda, however, must be purposeful if it is to succeed. Attempting ...