RT Journal Article
SR Electronic
T1 Three-Stage Tradable Set-Aside Requirements, Interdependent Values, and Biodiversity Production on Private Lands
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 690
OP 699
DO 10.3368/le.98.4.090919-0130
VO 98
IS 4
A1 Agee, Mark D.
A1 Crocker, Thomas D.
YR 2022
UL http://le.uwpress.org/content/98/4/690.abstract
AB We propose a static three-stage incentive-compatible, budget-balanced, execution-contingent mechanism for a regulator to allocate biodiversity-protection responsibilities across a landscape mosaic with multiple value-interdependent owners. The mechanism motivates owners to truthfully report their opportunity costs of protection to the regulator and comply with their assigned habitat protection responsibilities. (JEL D71, Q57)