Efficient management of natural resources requires that the least cost fishers operate in a fishery. Information economics tells us that firms have information about their costs that governments cannot readily acquire, and that we need to ensure this information is revealed in order to allocate...

This article reports on an Australian auction to procure multiple environmental outcomes: "EcoTender". EcoTender uses a Catchment Modelling Framework (CMF) to estimate the impact landholder actions have on carbon, terrestrial biodiversity, aquatic function (water quality and quantity), and...

This paper reports on a Catchment Modelling Framework (CMF) designed to support an Australian pilot of an auction for multiple environmental outcomes EcoTender. The CMF is used to estimate multiple environmental outcomes including carbon, terrestrial biodiversity, aquatic function (water quality...

Most markets have evolved as buyers and sellers constantly search for ways to create value, however this has not occurred naturally in all areas of the economy – markets are missing for some goods, including the environment. In such cases, transaction costs linked to property rights, asymmetric...

Most markets have evolved as buyers and sellers constantly search for ways to create value, however this has not occurred naturally in all areas of the economy markets are missing for some goods, including the environment. In such cases, transaction costs linked to property rights, asymmetric...

The efficiency implications of different property right allocations when two environmental goods can be produced under the condition of economies of scope are analysed. It is assumed that an environmental agency – acting on behalf of the community – employs an auction‐based mechanism to...