50 research outputs found

    Multi-Unit Auctions to Allocate Water Scarcity Simulating Bidding Behaviour with Agent Based Models

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    Multi-unit auctions are promising mechanisms for the reallocation of water. The main advantage of such auctions is to avoid the lumpy bid issue. However, there is great uncertainty about the best auction formats when multi-unit auctions are used. The theory can only supply the structural properties of equilibrium strategies and the multiplicity of equilibria makes comparisons across auction formats difficult. Empirical studies and experiments have improved our knowledge of multi- unit auctions but they remain scarce and most experiments are restricted to two bidders and two units. Moreover, they demonstrate that bidders have limited rationality and learn through experience. This paper constructs an agent-based model of bidders to compare the performance of alternative auction formats under circumstances where bidders submit continuous bid supply functions and learn over time to adjust their bids to improve their net incomes. We demonstrate that under the generalized Vickrey, simulated bids converge towards truthful bids as predicted by the theory and that bid shading is the rule for the uniform and discriminatory auctions. Our study allows us to assess the potential gains from agent-based modelling approaches in the assessment of the dynamic performance of multi-unit procurement auctions. Some recommendations on the desirable format of water auctions are provided.Multi-unit auctions, Learning, Multi-agent models, Water allocation

    Recreational trip timing and duration prediction: A research note

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    This paper presents models that predict two recreational fishing trip parameters: the length of a trip and the timing of a trip within a year. A discrete choice (logit) model linking the choice of trip timing to calendar events, the demographic characteristics of anglers as well as the nature of the trip is econometrically estimated. A Tobit model is used to evaluate the relationship between fishing trip length and personal and trip characteristics. The results indicate that timing choice and trip length can be explained well in terms of observable personal and trip variables. Knowledge of these relationships is a useful input to tourism/recreational fishing management as well as to the development of tourism/fishing activity simulation models.recreational fishing, trip timing, length of recreational trips, tourism simulation, environmental impact management, Environmental Economics and Policy,

    NON-PARAMETRIC APPROACHES TO ENVIRONMENTALLY SENSITIVE ANALYSIS OF ECONOMIC PERFORMANCE: TECHNICAL CHANGE AND PRODUCTIVITY GROWTH IN THE CANADIAN PULP AND PAPER INDUSTRY, 1959-1994

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    This study proposes non-parametric techniques for environmentally sensitive analysis of economic performance. The techniques are implemented using Canadian pulp and paper industry data covering the period from 1959 to 1994. The results indicate that productivity improvement has been more successful than conventional measures would suggest.Environmental Economics and Policy, Production Economics, Research Methods/ Statistical Methods,

    Economic valuation of recreational fishing in Western Australia

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    Allocation of fish resource is a controversial subject. Decision making is partly made difficult by the lack of knowledge on recreational fishing preferences and the value of fishing opportunities. This study investigates fishing site choices in Western Australia. Recreational fishing data covering the eight major fishing regions and fourty eight fishing sites in the State are used. The data are used to estimate a random utility model (RUM) of site choice behaviour with a supporting negative binomial econometric model of angler and fish-specific expected catch rates. We provide value estimates for different fish types, fishing site attribute changes as well as site access values. It is argued that sound economic value estimates can be starkly different from ad hoc recreational estimates that are commonly cited or presented.non-market valuation, recreational fishing, random utility models, fisheries management, marine environment management, Environmental Economics and Policy,

    Event-specific Data Envelopment Models and Efficiency Analysis

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    Most, if not all, production technologies are stochastic. This article demonstrates how data envelopment analysis (DEA) methods can be adapted to accommodate stochastic elements in a state-contingent setting. Specifically, we show how observations on a random input, not under the control of the producer and not known at the time that variable input decisions are made, can be used to partition the state space in a fashion that permits DEA models to approximate an event-specific production technology. The approach proposed in this article uses observed data on random inputs and is easy to implement. After developing the event-specific DEA representation, we apply it to a data set for Western Australian wheat farmers. Our results highlight the need for acknowledging stochastic elements in efficiency analysis.

    Pollution abatement and productivity performance of regional Canadian pulp and paper industries

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    distance functions productivity technical change efficiency environmental management pulp and paper pollutant outputs pollution abatement

    The Marginal Abatement Cost of Carbon Emissions in China

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    There is an emerging literature estimating the marginal cost of carbon mitigation in China using distance function approaches; however, empirical estimates vary widely in magnitude and variation, which undermines support for policies to curb carbon emission. Applying three commonly used distance functions to China’s provincial data from 2001 to 2010, we show that the variability can be partially explained by the difference in the input/output coverage and whether the estimated marginal abatement cost (MAC) is conditional or unconditional. We also argue that the substantial heterogeneity in abatement cost estimates could be related to an economic interpretation that radial measures reflect the short-run MACs while non-radial measures reflect the long-run MACs. Our mean short-run MAC for carbon is 20 US$ per tonne, an amount that is very close to the carbon prices observed in China’s recently launched pilot markets

    Recreational trip timing and duration prediction: A research note

    No full text
    This paper presents models that predict two recreational fishing trip parameters: the length of a trip and the timing of a trip within a year. A discrete choice (logit) model linking the choice of trip timing to calendar events, the demographic characteristics of anglers as well as the nature of the trip is econometrically estimated. A Tobit model is used to evaluate the relationship between fishing trip length and personal and trip characteristics. The results indicate that timing choice and trip length can be explained well in terms of observable personal and trip variables. Knowledge of these relationships is a useful input to tourism/recreational fishing management as well as to the development of tourism/fishing activity simulation models
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