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Combinatorial auctions for procuring agri-environmental services: a review of some design issues
Citation
Iftekhar, S and Hailu, A and Lindner, R, Combinatorial auctions for procuring agri-environmental services: a review of some design issues, Australasian Journal of Environmental Management, 19, (2) pp. 79-90. ISSN 1448-6563 (2012) [Refereed Article]
Copyright Statement
Copyright 2012 Environment Institute of Australia and New Zealand Inc.
DOI: doi:10.1080/14486563.2012.678573
Abstract
Auctions where landholders submit conservation projects for consideration in
return for payment have recently gained popularity. Flexible versions of these,
combinatorial auctions, which allow for the simultaneous submission of bids on
different combinations of projects, have recently been tested for conservation
purposes. Combinatorial auctions allow bidders to exploit synergies in the
execution of multiple conservation activities while the auction mechanism
stimulates competition among potential participants, enabling the auctioneer
(or government) to secure a cost-effective set of conservation projects. Combinatorial auctions have the potential to improve outcomes beyond what is possible with the simple auctions explored in trials over the last decade in many parts of Australia. This article reviews the state of the art in the design of combinatorial auctions with a particular focus on conservation auctions. Key design issues identified are the problem of determining the winning bid, pricing formats, and iterative bidding formats where bidders are able to revise their bids before a final selection is made.
Item Details
Item Type: | Refereed Article |
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Keywords: | auction designs, combinatorial auctions, complementarity, conservation auctions, ecosystem service payments, market-based instruments |
Research Division: | Economics |
Research Group: | Applied economics |
Research Field: | Agricultural economics |
Objective Division: | Economic Framework |
Objective Group: | Management and productivity |
Objective Field: | Management |
UTAS Author: | Iftekhar, S (Dr Md Sayed Iftekhar) |
ID Code: | 83687 |
Year Published: | 2012 |
Web of Science® Times Cited: | 5 |
Deposited By: | Economics and Finance |
Deposited On: | 2013-03-20 |
Last Modified: | 2013-05-27 |
Downloads: | 1 View Download Statistics |
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