Full Description

This powerpoint presentation begins by presenting the problem statement: water allocation increasingly relevant. The All-in Auction is presented as a solution. Compared to autarky and bilateral trades, multilateral two-sidedauctions clear faster and have greater efficiency. However, they may not maximize trades if either of the following istrue: participation - some sellers do not enter the auction to trade; and,endowment - some sellers have WTA p WTP. The AiA solves these problems by:participation - all rights in the auction (weakened property rights); and,endowment - having everyone bid for units in a bid-only auction. Interesting pricing complications are presented, along with lab experiments and field work.

Product Details

Edition: Vol. - No. Published: 11/01/2009 Number of Pages: 31File Size: 1 file , 1 MB