• myGriffith
    • Staff portal
    • Contact Us⌄
      • Future student enquiries 1800 677 728
      • Current student enquiries 1800 154 055
      • International enquiries +61 7 3735 6425
      • General enquiries 07 3735 7111
      • Online enquiries
      • Staff phonebook
    View Item 
    •   Home
    • Griffith Research Online
    • Journal articles
    • View Item
    • Home
    • Griffith Research Online
    • Journal articles
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

  • All of Griffith Research Online
    • Communities & Collections
    • Authors
    • By Issue Date
    • Titles
  • This Collection
    • Authors
    • By Issue Date
    • Titles
  • Statistics

  • Most Popular Items
  • Statistics by Country
  • Most Popular Authors
  • Support

  • Contact us
  • FAQs
  • Admin login

  • Login
  • Bringing biophysical models into the economic laboratory: An experimental analysis of sediment trading in Australia

    Author(s)
    Tisdell, John
    Griffith University Author(s)
    Tisdell, John G.
    Year published
    2007
    Metadata
    Show full item record
    Abstract
    Experimental economics has emerged and matured as a formal method for questioning and testing economic theory and assumptions concerning individual behavior. More recently, experimental methods have been used successfully in an economic laboratory to test alternative environmental policy options. The data underpinning these experiments is often stylized or hypothetical in nature. Ecologists and experimental economists have much to gain by exploring ways to underpin economic experiments with data generated from biophysical models. The study makes a contribution by demonstrating how underpinning experiments with regionally ...
    View more >
    Experimental economics has emerged and matured as a formal method for questioning and testing economic theory and assumptions concerning individual behavior. More recently, experimental methods have been used successfully in an economic laboratory to test alternative environmental policy options. The data underpinning these experiments is often stylized or hypothetical in nature. Ecologists and experimental economists have much to gain by exploring ways to underpin economic experiments with data generated from biophysical models. The study makes a contribution by demonstrating how underpinning experiments with regionally modeled biophysical data may give insights which would not necessarily arise from stylized data. In this study sediment data generated from an Environmental Management Support System (EMSS), a software model of sediment runoff in catchments, was used to populate the players' decision space. The study investigated the relative performance of four different instruments, closed first and second price call tenders, cap and trade and command and control regulation. These market instruments will be compared with the aim of promoting riparian management and reducing total suspended solids exiting a catchment. The study finds that the cost of meeting regulatory requirement of sediment reduction through command and control is less than either first or second price auction. However, cap and trade produced high levels of convergence and production, which moved towards minimizing the cost of achieving the cap reduction level.
    View less >
    Journal Title
    Ecological Economics
    Volume
    60
    Issue
    3
    Publisher URI
    http://www.elsevier.com/wps/find/journaldescription.cws_home/503305/description#description
    DOI
    https://doi.org/10.1016/j.ecolecon.2005.12.018
    Subject
    History and Archaeology
    Environmental Science and Management
    Applied Economics
    Other Economics
    Publication URI
    http://hdl.handle.net/10072/18518
    Collection
    • Journal articles

    Footer

    Disclaimer

    • Privacy policy
    • Copyright matters
    • CRICOS Provider - 00233E
    • TEQSA: PRV12076

    Tagline

    • Gold Coast
    • Logan
    • Brisbane - Queensland, Australia
    First Peoples of Australia
    • Aboriginal
    • Torres Strait Islander