File(s) under permanent embargo
Can partial project selection improve conservation auction performances?
journal contribution
posted on 2023-05-19, 16:47 authored by Iftekhar, MS, Tisdell, JG, Sprod, DConservation auctions often follow an ‘all or nothing’ bid selection approach, which restricts the selection of the most suitable parts of a submitted project. The problem with ‘lumpy’ (or all-ornothing) project selection has been identified in the literature as a major problem in conservation policy; however, the extent of the problem has been rarely quantified. Using an actual conservation tender dataset from Tasmania, the effect of the approach was estimated. This study finds that with a relatively small budget, the cost-effectiveness loss could be as high as one-quarter. To avoid such problem, a partial bid selection could be applied. The basic principle of a partial bid selection is to invite a single project from each landholder with the option for the environmental planning agency to partially select sections of the offer lands that maximise the achievement of the agency’s policy objectives. A sensitivity analysis with different bid and ecological value correction factors shows that when the corrections are low, the partial selection approach could be more cost-effective than an ‘all or nothing’ approach. The results indicate that agencies should consider alternative project selection approaches with better targeting capabilities.
Funding
Department of Environment and Energy (Cwth)
History
Publication title
Australasian Journal of Environmental ManagementVolume
25Pagination
212-232ISSN
1448-6563Department/School
TSBEPublisher
Taylor & FrancisPlace of publication
United KingdomRights statement
© 2018 Environment Institute of Australia and New Zealand Inc.Repository Status
- Restricted