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

摘要: Abstract Experimental economics has emerged and matured as a formal method for questioning testing economic theory assumptions concerning individual behavior. More recently, experimental methods have been used successfully in an laboratory to test alternative environmental policy options. The data underpinning these experiments is often stylized or hypothetical nature. Ecologists economists much gain by exploring ways underpin with generated from biophysical models. study makes contribution demonstrating how regionally modeled may give insights which would not necessarily arise data. In this sediment Environmental Management Support System (EMSS), software model of runoff catchments, was populate the players' decision space. investigated relative performance four different instruments, closed first second price call tenders, cap trade command control regulation. These market instruments will be compared aim promoting riparian management reducing total suspended solids exiting catchment. finds that cost meeting regulatory requirement reduction through less than either auction. However, produced high levels convergence production, moved towards minimizing achieving level.