Asymmetric information and contract design for payments for environmental services
TR Number
Date
2008
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Elsevier B.V.
Abstract
This article addresses the informational rents that are created in payments for environmental services (PES) contracts by asymmetric information between landowners and conservation buyers. Three options for reducing informational rents are described and compared: 1)gathering information on compliance costs, 2)screening contracts, and 3)procurement auctions.
Description
Metadata only record
Keywords
Environmental services, Payments for environmental services, Conservation strategy, PES, Asymmetric information, Contracts, Screening, Auctions, Informational rents, Opportunity costs
Citation
Ecological Economics 65(4): 810-821