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Abstract

Conservation auctions often follow an ‘all or nothing’ bid selectionapproach, which restricts the selection of the most suitable partsof a submitted project. The problem with ‘lumpy’ (or all-ornothing)project selection has been identified in the literature as amajor problem in conservation policy; however, the extent of theproblem has been rarely quantified. Using an actual conservationtender dataset from Tasmania, the effect of the approach wasestimated. This study finds that with a relatively small budget, thecost-effectiveness loss could be as high as one-quarter. To avoidsuch problem, a partial bid selection could be applied. The basicprinciple of a partial bid selection is to invite a single project fromeach landholder with the option for the environmental planningagency to partially select sections of the offer lands that maximisethe achievement of the agency’s policy objectives. A sensitivityanalysis with different bid and ecological value correction factorsshows that when the corrections are low, the partial selectionapproach could be more cost-effective than an ‘all or nothing’approach. The results indicate that agencies should consideralternative project selection approaches with better targetingcapabilities.

Item Type:	Article
Authors/Creators:	Iftekhar, MS and Tisdell, JG and Sprod, D
Keywords:	land conservatuion, ecological economics
Journal or Publication Title:	Australasian Journal of Environmental Management
Publisher:	Taylor & Francis
ISSN:	1448-6563
DOI / ID Number:	https://doi.org/10.1080/14486563.2017.1417164
Copyright Information:	© 2018 Environment Institute of Australia and New Zealand Inc.
Related URLs:	Google Scholar: Tisdell, JG UTAS Profile: Tisdell, JG
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