We evaluate the impact of three auction mechanisms – the Becker–DeGroot–Marschak (BDM) mechanism, the second-price auction (SPA), and the random nth-price auction (NPA) – in the measurement of private willingness-to-pay and willingness-to-accept for a pure public good. Our results show...

Public authorities frequently mandate public or private agencies to manage their renewable natural resources. Contrary to the agency, which is an expert in renewable natural resource management, public authorities usually ignore the sustainable level of harvest. In this note, we first model the...