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Optimisation and the selection of conservation contracts AgEcon
Hajkowicz, Stefan; Higgins, Andrew J.; Williams, Kristen; Faith, Daniel P.; Burton, Michael P..
This paper explores alternative techniques for the selection of conservation contracts under competitive tendering programs. Under these programs, purchasing decisions are often based on the benefits score and cost for proposed projects. The optimisation problem is to maximise the aggregate benefits without exceeding the budget. Because the budget rarely permits all projects to be funded, there is a binary choice problem, known in the operations research published work as a knapsack problem. The decision-maker must choose which projects are funded and which are not. Under some circumstances, the knapsack problem can be unsolvable because computational complexity increases exponentially with the number of projects. This paper explores the use of several...
Tipo: Journal Article Palavras-chave: Market based instruments; Environmental services auction; Environment benefits index; Conservation planning; Resource /Energy Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/118317
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