Konferenzbeitrag
Markets for Sustainable Resource Use: Auctioned Limited-Tenure Use Rights with Refunding
Efficiency and sustainability often clash if limited-tenure use rights for renewable natural resources are rented to private resource managers. We introduce a mechanism reconciling these two issues for a stochastically developing natural resource. The mechanism selects the most patient and, thus, most sustainably harvesting resource manager in a second-price sealed-bid auction with minimum bids and it overcomes the incentive to mine the resource at the end of tenure by announcing a refund if a sustainability goal is obeyed. In addition, the mechanism ensures efficiency and is self-financing in expectation.
- Language
-
Englisch
- Bibliographic citation
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Optimal Resource Extraction ; No. A15-V2
- Classification
-
Wirtschaft
Renewable Resources and Conservation: General
Auctions
Asymmetric and Private Information; Mechanism Design
- Subject
-
auctioning-refunding-mechanism
efficiency
renewable resource
stochastic model
sustainability
- Event
-
Geistige Schöpfung
- (who)
-
Winkler, Ralph
Quaas, Martin
- Event
-
Veröffentlichung
- (who)
-
Verein für Socialpolitik
- (where)
-
Frankfurt a. M.
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Winkler, Ralph
- Quaas, Martin
- Verein für Socialpolitik
Time of origin
- 2010
Other Objects (12)
Land tenure, technological change and resource use : transformation processes in African agrarian systems
Groups discipline resource use under scarcity
Sustainable resource use and economic dynamics
Developing Resource use Scenarios for Europe
Reduction of natural resource use by improving resource efficiency
Resource-driven processes : concept, use, and incorporation
An optimal policy mix for resource use
Renewable resource use with imperfect self-control
Renewable Resource Use with Imperfect Self-Control
Land property rights and natural resource use : an analysis of household behaviour in rural China
Does Land Tenure Security Promote Manure Use by Farm Households in Vietnam?
Optimization of resource efficiency in mixed-use quarters
Land tenure, technological change and resource use : transformation processes in African agrarian systems
Groups discipline resource use under scarcity
Sustainable resource use and economic dynamics
Developing Resource use Scenarios for Europe
Reduction of natural resource use by improving resource efficiency
Resource-driven processes : concept, use, and incorporation
An optimal policy mix for resource use
Renewable resource use with imperfect self-control
Renewable Resource Use with Imperfect Self-Control
Land property rights and natural resource use : an analysis of household behaviour in rural China
Does Land Tenure Security Promote Manure Use by Farm Households in Vietnam?
Optimization of resource efficiency in mixed-use quarters
Land tenure, technological change and resource use : transformation processes in African agrarian systems
Groups discipline resource use under scarcity
Sustainable resource use and economic dynamics
Developing Resource use Scenarios for Europe
Reduction of natural resource use by improving resource efficiency
Resource-driven processes : concept, use, and incorporation
An optimal policy mix for resource use
Renewable resource use with imperfect self-control
Renewable Resource Use with Imperfect Self-Control
Land property rights and natural resource use : an analysis of household behaviour in rural China
Does Land Tenure Security Promote Manure Use by Farm Households in Vietnam?