Green auctions and reduction of information rents in payments for environmental services: an experimental investigation in Sunan County, northwestern China

PloS One
Xiaohong Deng, Zhongmin Xu

Abstract

Reducing information rents is an important task for government agencies wishing to purchase maximal environmental services with limited budgets. This paper reports on several green auction options for reducing information rents and improving the performance of the "Grain for Green" Payments for environmental services (PES) program implemented in northwestern China. In r experimental auctions and investigations, door-to-door interviews were conducted and bidding envelopes and survey questionnaires were used to determine the offers and the foregone profits of the participants. Three scenarios are analyzed in this paper: a uniform price auction, a discriminatory price auction, and an opportunity-cost system. The results show that compared to the uniform price auction system, the other auction systems can increase the cost-effectiveness of conservation contracting. Competitive bidding can reveal true opportunity costs and can reduce information rents extracted from the government by farmers using private information. The demographics and average bids of these auction types were also analyzed. "Perfect information" in the opportunity-cost offer system has the best performance but is very hard to implement in reality. The results of ...Continue Reading

References

Sep 13, 2005·BMJ : British Medical Journal·Paula Bolton-Maggs, Aileen Flavin
Nov 4, 2005·Proceedings of the National Academy of Sciences of the United States of America·Robin Naidoo, Wiktor L Adamowicz
Aug 15, 2006·Conservation Biology : the Journal of the Society for Conservation Biology·Robin Naidoo, Wiktor L Adamowicz

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