Experimental Testbeds for ECOSEL: A Market Framework for Private Provision of Forest Ecosystem Services
We attempt to design a market framework (which we call ECOSEL) for private provision of forest ecosystem services. ECOSEL is a non-regulatory framework that uses a voluntary public good provision mechanism (in a form of an auction) in conjunction with a multiobjective optimization algorithm to create a market for forest ecosystem services. It is expected to be attractive to the demand side of the ecosystem service market since only Pareto-efficient bundles of services are offered for auction, and it is expected to be attractive to the supply side as well by creating a source of non-timber income for forest landowners. ECOSEL is capable of flexible response to demand for other relevant dimensions of forest-related environmental amenities such as biodiversity, viewshed or recreational services. Following Roth’s (2002) advice on behavior of economists as “market engineers”, we use both experimental economics to improve the design of the ecosystem services market. Concurrently, we provide experimental evidence on the efficiency and revenue-generating properties of a multi-good subscription game of incomplete information.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: 555 East Wells Street, Suite 1100, Milwaukee, Wisconsin 53202|
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bagnoli, Mark & Ben-David, Shaul & McKee, Michael, 1992.
"Voluntary provision of public goods : The multiple unit case,"
Journal of Public Economics,
Elsevier, vol. 47(1), pages 85-106, February.
- Bagnoli, M. & Ben-David, S. & Mckee, M., 1989. "Volumtary Provision Of Public Goods: The Multiple Unit Case," Papers 89-20, Michigan - Center for Research on Economic & Social Theory.
- Stefano Barbieri & David Malueg, 2008. "Private provision of a discrete public good: efficient equilibria in the private-information contribution game," Economic Theory, Springer, vol. 37(1), pages 51-80, October.
- NeilJ. Buckley & Stuart Mestelman & R.Andrew Muller, 2006.
"Implications Of Alternative Emission Trading Plans: Experimental Evidence,"
Pacific Economic Review,
Wiley Blackwell, vol. 11(2), pages 149-166, 06.
- Neil J. Buckley & S. Mestelman & Andrew Muller, 2004. "Implications of Alternative Emission Trading Plans: Experimental Evidence," Department of Economics Working Papers 2004-07, McMaster University.
- Bagnoli, Mark & McKee, Michael, 1991. "Voluntary Contribution Games: Efficient Private Provision of Public Goods," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 351-66, April.
- Alboth, Dirk & Lerner, Anat & Shalev, Jonathan, 2001.
" Profit Maximizing in Auctions of Public Goods,"
Journal of Public Economic Theory,
Association for Public Economic Theory, vol. 3(4), pages 501-25.
- Dirk Alboth & Anat Lerner & Jonathan Shalev, 1997. "Profit Maximizing in Auctions of Public Goods," Game Theory and Information 9707010, EconWPA, revised 01 Apr 1998.
- ALBOTH, Dirk & LERNER, Anat & SHALEV, Jonathan, 1998. "Profit maximizing in auctions of public goods," CORE Discussion Papers 1998017, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- ALBOTH, Dirk & LERNER, Anat & SHALEV, Jonathan, . "Profit maximizing in auctions of public goods," CORE Discussion Papers RP 1596, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Cadsby, Charles Bram & Maynes, Elizabeth, 1999. "Voluntary provision of threshold public goods with continuous contributions: experimental evidence," Journal of Public Economics, Elsevier, vol. 71(1), pages 53-73, January.
- Mark Bagnoli & Barton L. Lipman, 1989. "Provision of Public Goods: Fully Implementing the Core through Private Contributions," Review of Economic Studies, Oxford University Press, vol. 56(4), pages 583-601.
- Anat R. Admati & Motty Perry, 1991. "Joint Projects without Commitment," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 259-276.
When requesting a correction, please mention this item's handle: RePEc:ags:aaea09:49565. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If references are entirely missing, you can add them using this form.