Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Biodiversity 2 Location: B002 Session Chair: Brett Day, University of Exeter | |
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Designing markets for bundled environmental goods University of Exeter, United Kingdom ``No net loss'' policies are increasingly common tools through which governments reduce environmental damage. To function efficiently, these policies require trade, with firms who damage the environment paying for offsetting environmental improvements from other actors. Yet, current trade is hamstrung because the blocky nature of supply and demand for environmental services has yet to be recognised by existing market design solutions. In this paper we propose and test, both in the real world and laboratory, a package market using the Balanced Winners' Contribution rule of Lindsay (2018). Proprietary data from the real world shows that the package market design is highly flexible and can facilitate trade where current approaches fail. The experimental results point to this new market design offering substantial efficiency gains relative to the current approaches applied internationally, suggesting broad applicability of the market. | |