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-sided
auctions clear faster and have greater efficiency. However, they may not maximize trades if either of the following is
true: 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.
| Edition : | Vol. - No. |
| File Size : | 1
file
, 1 MB |
| Note : | This product is unavailable in Ukraine, Russia, Belarus |
| Number of Pages : | 31 |
| Published : | 11/01/2009 |
