The efficiency implications of different property right allocations when two environmental goods can be produced under the condition of economies of scope are analysed. It is assumed that an environmental agency - acting on behalf of the community - employs an auction-based mechanism to buy...

The efficiency implications of different property right allocations when two environmental goods can be produced under the condition of economies of scope are analysed. It is assumed that an environmental agency – acting on behalf of the community – employs an auction‐based mechanism to...

The present paper proposes that markets for nature conservation on private land are missing because of the problem of asymmetric information. An auction of conservation contracts was designed to reveal hidden information needed to facilitate meaningful transactions between landholders and...

The present paper proposes that markets for nature conservation on private land are missing because of the problem of asymmetric information. An auction of conservation contracts was designed to reveal hidden information needed to facilitate meaningful transactions between landholders and...

A great deal of attention has been given in recent years to the question of externalities associated with water entitlements and how third parties can be protected without restricting opportunities for water trade. Yet one market failure that has received no attention at all is the missing...

Variety change and genetic diversity are important means of combating crop losses from pests and diseases in modern agricultural systems. Since the Green Revolution, genetic diversity among wheat varieties released in India has increased but variety change on farms continues to be slow. In this...

Evaluation of off-site mitigation entails comparison of utility changes between two sites. Choice modelling has been used to identify community willingness to trade-off attributes for two different types of stream in New Zealand. Estimated utility functions are used to derive marginal rates of...

One approach to rationalising policies for addressing potentially catastrophic climate change when such policies may prove unnecessary is to suppose the policies provide a form of social insurance even in the presence of pure uncertainty. Then, provided the policies are effective, such insurance...