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Incorporating Variable Costs of Adoption into Conservation Auctions

  • Author / Creator
    Wilson, Scott Alexander
  • Conservation auctions are a policy tool designed to provide incentives for the implementation of beneficial management practices (BMPs) more efficiently than traditional policies. Few practical auctions have been performed in Canada and there is limited understanding of how producers would react to them. A combination of experimental conservation auctions conducted at the University of Alberta and a producer survey in Miami, Manitoba were used for this thesis. We attempt to elicit risk aversion and determine how it factors into auction behaviour and performance. A risk aversion task was conducted to establish risk aversion levels for experimental auction participants and survey participants. University participants and producers exhibited similar risk aversion levels. We find risk averse individuals submitted bids closer to their BMP adoption costs. Potential cost variation also affects bidding behaviour; participants mark up their bids when there is a risk of their costs changing.

  • Subjects / Keywords
  • Graduation date
    2013-11
  • Type of Item
    Thesis
  • Degree
    Master of Science
  • DOI
    https://doi.org/10.7939/R3VX0X
  • License
    This thesis is made available by the University of Alberta Libraries with permission of the copyright owner solely for non-commercial purposes. This thesis, or any portion thereof, may not otherwise be copied or reproduced without the written consent of the copyright owner, except to the extent permitted by Canadian copyright law.
  • Language
    English
  • Institution
    University of Alberta
  • Degree level
    Master's
  • Department
    • Department of Resource Economics and Environmental Sociology
  • Specialization
    • Agricultural and Resource Economics
  • Supervisor / co-supervisor and their department(s)
    • Boxall, Peter (Resource Economics and Environmental Sociology)
  • Examining committee members and their departments
    • Unterschultz, Jim (Resource Economics and Environmental Sociology)
    • Wichmann, Bruno (Resource Economics and Environmental Sociology)