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A note on the performance measure of conservation auctions

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  • Latacz-Lohmann, Uwe
  • Schilizzi, Steven
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    Abstract

    We argue that previous assessments of discriminatory-price conservation auctions may have systematically overestimated their performance relative to uniform-payment schemes due to an inappropriate counterfactual comparison. We demonstrate that the cost curve (and not the bid curve) is the relevant supply curve when a uniform payment is offered and provide a theoretically rigorous counterfactual based on that insight. We estimate that the performance of BushTender may have been overrated by more than 50%.

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    File URL: http://purl.umn.edu/100885
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    Bibliographic Info

    Paper provided by University of Western Australia, School of Agricultural and Resource Economics in its series Working Papers with number 100885.

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    Date of creation: 18 Feb 2011
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    Handle: RePEc:ags:uwauwp:100885

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    Related research

    Keywords: Auctions; procurement; tenders; conservation; economic experiments; model validation; plus: assessment method; agricultural policy; environmental policy; market-based instruments; Environmental Economics and Policy; Research Methods/ Statistical Methods; C91; C92; D44; Q24; Q28;

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