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...

Experiments in economics and their application to policy design continue to gain increasing popular appeal. Australia is investing in training, capacity building and international partnerships to bring these skills to our policy makers. Economic experiments are used to test policy-related...

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...