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ERIC Number: EJ759281
Record Type: Journal
Publication Date: 2004
Pages: 23
Abstractor: Author
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0276-8739
Using Laboratory Experiments for Policymaking: An Example from the Georgia Irrigation Reduction Auction
Cummings, Ronald G.; Holt, Charles A.; Laury, Susan K.
Journal of Policy Analysis and Management, v23 n2 p341-363 Spr 2004
In recent years, interest has been growing in policy applications of different auction systems. This paper reports a series of experiments that were used to design and implement an auction in a unique policymaking environment. In April 2000, the Georgia legislature passed a law that mandated that the state hold an auction in drought years to pay some farmers to suspend irrigation. This paper reports the results of laboratory experiments state policymakers used to determine the auction institution that would be used to fulfill the requirements of this new law. Experimental results are compared with farmers' bidding behavior in the state-run irrigation auction used to reduce water usage in Georgia.
John Wiley & Sons, Inc. Subscription Department, 111 River Street, Hoboken, NJ 07030-5774. Tel: 800-825-7550; Tel: 201-748-6645; Fax: 201-748-6021; e-mail: subinfo@wiley.com; Web site: http://www3.interscience.wiley.com/browse/?type=JOURNAL
Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Georgia