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Australian Agricultural and Resource Economics Society >
2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/10441
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| Title: | Putting theory into practice: market failure and market based instrument design |
| Authors: | Whitten, Stuart M.
Coggan, Anthea
Reeson, Andrew
Gorddard, Russell J. |
| Keywords: | market failure
market based instrument
incentives |
| Issue Date: | 2007 |
| Series/Report no.: | Conference Paper |
| Abstract: | The use of market-based instruments (MBIs) to provide and protect ecosystem services has gained significant attention in Australia. Despite their popularity, MBIs are not appropriate for the provision of all ecosystem services. Rather, MBIs must be carefully designed given the ecosystem service outcomes desired, while meeting the needs of participants. In this paper we detail the importance of a robust theoretical structure to underpin the selection and design of an MBI. In particular, we demonstrate the role of identifying and analysing the nature of the market failures present, and their implications for instrument design. Our conclusions are illustrated using several regional MBI case studies. |
| URI: | http://purl.umn.edu/10441 |
| Institution/Association: | Australian Agricultural and Resource Economics Society - 2007>2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand |
| Total Pages: | 21 |
| Language: | English |
| Collections: | 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand
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