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To Bid or Not to Bid: The Role of Participation Rates in Conservation Auction Outcomes

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  • Geret S. DePiper

Abstract

In this article, I jointly analyze stated willingness to accept values with revealed auction bids from fishing license buybacks in the Chesapeake Bay blue crab fishery in order to better understand the link between participation decisions and conservation outcomes. In contrast with theoretical expectations, I find individuals with the lowest willingness to accept participated in these reverse auctions at lower rates than other eligible individuals, all else being equal. This suggests that who bids in an auction plays an important role in the success of conservation outcomes. These results indicate that market design should expand to consider how, and whether, the economic incentives underlying auction participation align with desired conservation outcomes, both within fisheries and in natural resource management more broadly.

Suggested Citation

  • Geret S. DePiper, 2015. "To Bid or Not to Bid: The Role of Participation Rates in Conservation Auction Outcomes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(4), pages 1157-1174.
    • Handle: RePEc:oup:ajagec:v:97:y:2015:i:4:p:1157-1174.
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    File URL: http://hdl.handle.net/10.1093/ajae/aav017
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    Cited by:

    1. Lundberg, Liv & Persson, U. Martin & Alpizar, Francisco & Lindgren, Kristian, 2018. "Context Matters: Exploring the Cost-effectiveness of Fixed Payments and Procurement Auctions for PES," Ecological Economics, Elsevier, vol. 146(C), pages 347-358.
    2. Cloé Garnache & Scott M. Swinton & Joseph A. Herriges & Frank Lupi & R. Jan Stevenson, 2016. "Solving the Phosphorus Pollution Puzzle: Synthesis and Directions for Future Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(5), pages 1334-1359.
    3. Susan Stratton Sayre, 2019. "Pay for the Option to Pay? The Impact of Improved Scientific Information on Payments for Ecosystem Services," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(2), pages 591-625, June.
    4. Holzer, Jorge & McConnell, Kenneth, 2023. "Extraction rights allocation with liquidity constraints," Resource and Energy Economics, Elsevier, vol. 71(C).
    5. Holzer, Jorge & DePiper, Geret & Lipton, Douglas, 2017. "Buybacks with costly participation," Journal of Environmental Economics and Management, Elsevier, vol. 85(C), pages 130-145.
    6. Leah H. Palm-Forster & Scott M. Swinton & Frank Lupi & Robert S. Shupp, 2016. "Too Burdensome to Bid: Transaction Costs and Pay-for-Performance Conservation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(5), pages 1314-1333.

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