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Assessing the Performance of Conservation Auctions: An Experimental Study

Listed author(s):
  • Steven Schilizzi
  • Uwe Latacz-Lohmann
Registered author(s):

    This work uses controlled laboratory experiments to investigate the budgetary and the economic performance of competitive tenders for allocating conservation contracts to landholders. Experiments have been replicated in two different countries to check for robustness of results. We find that auctions outperform the more traditional fixed-price programs only in the one-shot setting. With repetition, the auctions quickly lose their edge. The budget-constrained auction performs similarly to the target-constrained in the one-shot setting but appears more robust to repetition. Our results suggest that previous estimates of conservation auction performance are too optimistic, and we propose a method for improving such estimates.

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    File URL: http://le.uwpress.org/cgi/reprint/83/4/497
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    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 83 (2007)
    Issue (Month): 4 ()
    Pages: 497-515

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    Handle: RePEc:uwp:landec:v:83:y:2007:i:4:p:497-515
    Contact details of provider: Web page: http://le.uwpress.org/

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    1. Holland, Dan & Gudmundsson, Eyjolfur & Gates, John, 1999. "Do fishing vessel buyback programs work: A survey of the evidence," Marine Policy, Elsevier, vol. 23(1), pages 47-69, January.
    2. Timothy N. Cason & Lata Gangadharan, 2003. "A Laboratory Comparison Of Uniform And Discriminative Price Auctions Forreducing Non-Point Source Pollution," Department of Economics - Working Papers Series 882, The University of Melbourne.
    3. Atakelty Hailu & Steven Schilizzi, 2004. "Are Auctions More Efficient Than Fixed Price Schemes When Bidders Learn?," Australian Journal of Management, Australian School of Business, vol. 29(2), pages 147-168, December.
    4. Gary Stoneham & Vivek Chaudhri & Arthur Ha & Loris Strappazzon, 2003. "Auctions for conservation contracts: an empirical examination of Victoria's BushTender trial," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), pages 477-500, December.
    5. Babcock, Bruce A. & Lakshminarayan, P. G. & Wu, JunJie & Zilberman, David, 1996. "Economics of a Public Fund for Environmental Amenities (The)," Staff General Research Papers Archive 1065, Iowa State University, Department of Economics.
    6. Larkin, Sherry L. & Keithly, Walter R., Jr. & Adams, Charles M. & Kazmierczak, Richard F., Jr., 2004. "Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(02), August.
    7. Klemperer, Paul, 1999. " Auction Theory: A Guide to the Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 13(3), pages 227-286, July.
    8. Stoneham, Gary & Chaudhri, Vivek & Ha, Arthur & Strappazzon, Loris, 2003. "Auctions for conservation contracts: an empirical examination of Victoria’s BushTender trial," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), pages -, December.
    9. David Zilberman, 1996. "The Economics of a Public Fund for Environmental Amenities: A Study of CRP Contracts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 961-971.
    10. repec:oxf:wpaper:1999-w12 is not listed on IDEAS
    11. Uwe Latacz-Lohmann & Carel Van der Hamsvoort, 1997. "Auctioning Conservation Contracts: A Theoretical Analysis and an Application," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 407-418.
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