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How can we evaluate conservation auctions? Three Possible methods

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  • Schilizzi, Steven

Abstract

By design, tenders are used when costs are unknown. But if costs are unknown, how can we evaluate the tenders, when their evaluation involves measuring their cost-effectiveness? We identify three approaches: theoretical, empirical and experimental. We first use experimental data to compare the efficiency of each approach, then apply the most efficient one to field data from the Scottish fishing vessel decommissioning program. We estimate the potential errors one would make in using a less efficient approach. In this case, we demonstrate a novel use of controlled lab experiments for interpreting field data and evaluating policy effectiveness.

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  • Schilizzi, Steven, 2012. "How can we evaluate conservation auctions? Three Possible methods," 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia 124442, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare12:124442
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    File URL: http://purl.umn.edu/124442
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    References listed on IDEAS

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    1. Rosse, James N, 1970. "Estimating Cost Function Parameters without Using Cost Data: Illustrated Methodology," Econometrica, Econometric Society, vol. 38(2), pages 256-275, March.
    2. Katherine Reichelderfer & William G. Boggess, 1988. "Government Decision Making and Program Performance: The Case of the Conservation Reserve Program," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(1), pages 1-11.
    3. Steven Schilizzi & Uwe Latacz-Lohmann, 2007. "Assessing the Performance of Conservation Auctions: An Experimental Study," Land Economics, University of Wisconsin Press, vol. 83(4), pages 497-515.
    4. White, Benedict & Burton, Michael P., 2010. "Measuring the Cost-effectiveness of Conservation Auctions Relative to Alternate Policy Mechanisms," Working Papers 97798, University of Western Australia, School of Agricultural and Resource Economics.
    5. Schilizzi, Steven & Latacz-Lohmann, Uwe, 2007. "Assessing the performance of conservation auctions: an experimental study," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10436, Australian Agricultural and Resource Economics Society.
    6. 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), December.
    7. Estelle Cantillon & Martin Pesendorfer, 2006. "Auctioning bus routes: the London experience," ULB Institutional Repository 2013/9003, ULB -- Universite Libre de Bruxelles.
    8. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, March.
    9. 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.
    10. Berry, Steven & Levinsohn, James & Pakes, Ariel, 1995. "Automobile Prices in Market Equilibrium," Econometrica, Econometric Society, vol. 63(4), pages 841-890, July.
    11. Cox, James C & Smith, Vernon L & Walker, James M, 1984. " Theory and Behavior of Multiple Unit Discriminative Auctions," Journal of Finance, American Finance Association, vol. 39(4), pages 983-1010, September.
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    Keywords

    Auctions; conservation; experiments; evaluation; measurement; market-based policy instruments; Resource /Energy Economics and Policy;

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