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Combinatorial Auction Designs for Biodiversity Conservation
Citation
Iftekhar, MS and Hailu, A and Lindner, RK, Combinatorial Auction Designs for Biodiversity Conservation, Society and Natural Resources, 25, (10) pp. 965-979. ISSN 0894-1920 (2012) [Refereed Article]
Copyright Statement
Copyright 2012 Taylor & Francis Group, LLC
DOI: doi:10.1080/08941920.2011.644393
Abstract
A conservation auction is a tender mechanism for allocating project contracts among landholders for undertaking environmental conservation activities. Typically, environmental indices (EIs) are used to combine multiple project benefits into an overall score for selecting successful projects. However, higher flexibility and efficiency can be achieved by allowing bidders to offer different combinations of conservation benefits where projects are evaluated directly in terms of their multiple outcomes. Combinatorial auctions that allow bidders to express their preferences for a combination of projects can be attractive. In this article, we discuss three major features of combinatorial auction designs that would be useful in conservation: submission of multiple projects by individual bidders, consideration of cost complementarities
by individual bidders, and flexibility in project evaluation by the auctioneer.
Using a stylized simulation experiment, we quantify and demonstrate the benefits of these features for some hypothetical conservation situations.
Item Details
Item Type: | Refereed Article |
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Keywords: | auction efficiency, biodiversity conservation, combinatorial auction, conservation auction |
Research Division: | Economics |
Research Group: | Applied economics |
Research Field: | Agricultural economics |
Objective Division: | Economic Framework |
Objective Group: | Measurement standards and calibration services |
Objective Field: | Agricultural and environmental standards and calibrations |
UTAS Author: | Iftekhar, MS (Dr Md Sayed Iftekhar) |
ID Code: | 83654 |
Year Published: | 2012 |
Web of Science® Times Cited: | 2 |
Deposited By: | Economics and Finance |
Deposited On: | 2013-03-20 |
Last Modified: | 2015-08-13 |
Downloads: | 0 |
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