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An Iterative Auction for Spatially Contiguous Land Management: An Experimental Analysis AgEcon
Banerjee, Simanti; Shortle, James S.; Kwasnica, Anthony M..
Tackling the problem of ecosystem services degradation is an important policy challenge. Different types of economic instruments have been employed by conservation agencies to meet this challenge. Notable among them are Payment for Ecosystem Services (PES) schemes that pay private landowners to change land uses to pro-environmental ones on their properties. This paper focuses on a PES scheme – an auction for the cost-efficient disbursal of government funds for selection of spatially contiguous land management projects. The auction is structured as an iterative descending price auction where every bid is evaluated on the basis of a scoring metric – a benefit cost ratio. The ecological effectiveness and economic efficiency of the auction is tested with data...
Tipo: Conference Paper or Presentation Palavras-chave: Ecosystem Services; Economic experiments; Auctions; Spatial contiguity; Environmental Economics and Policy; Institutional and Behavioral Economics; Land Economics/Use; Resource /Energy Economics and Policy; Q.
Ano: 2011 URL: http://purl.umn.edu/103220
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