How can we evaluate conservation auctions? Three Possible methods
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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- 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.
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- 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.
- 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.
- Berry, Steven & Levinsohn, James & Pakes, Ariel, 1995. "Automobile Prices in Market Equilibrium," Econometrica, Econometric Society, vol. 63(4), pages 841-90, July.
- 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.
- 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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