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A note on the performance measure of conservation auctions

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  • Latacz-Lohmann, Uwe
  • Schilizzi, Steven

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%.

Suggested Citation

  • Latacz-Lohmann, Uwe & Schilizzi, Steven, 2011. "A note on the performance measure of conservation auctions," Working Papers 100885, University of Western Australia, School of Agricultural and Resource Economics.
    • Handle: RePEc:ags:uwauwp:100885
    DOI: 10.22004/ag.econ.100885
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    Keywords

    Environmental Economics and Policy; Research Methods/ Statistical Methods;

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