Contract Design for Biodiversity Procurement
AbstractMarket based instruments are proving increasingly effective in biodiversity procurement and in regulatory schemes to preserve biodiversity. The design of these policy instruments brings together issues in auction design, contract theory, biology, and monitoring technology. Using a mixed adverse selection, moral hazard model, we show that optimal contract design may differ significantly between procurement and regulatory policy environments.
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Bibliographic InfoPaper provided by Australian Agricultural and Resource Economics Society in its series 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia with number 48047.
Date of creation: 2009
Date of revision:
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More information through EDIRC
biodiversity; procurement; adverse selection; moral hazard; contract theory;
Other versions of this item:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-03-28 (All new papers)
- NEP-CTA-2009-03-28 (Contract Theory & Applications)
- NEP-ENV-2009-03-28 (Environmental Economics)
- NEP-REG-2009-03-28 (Regulation)
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