Three Essays on Heterogeneity and Asymmetric Information in Land Economics
Author | : TianHang Gao |
Publisher | : |
Total Pages | : 171 |
Release | : 2019 |
ISBN-10 | : 1687974373 |
ISBN-13 | : 9781687974372 |
Rating | : 4/5 (372 Downloads) |
Download or read book Three Essays on Heterogeneity and Asymmetric Information in Land Economics written by TianHang Gao and published by . This book was released on 2019 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sometimes, social planners use reverse auctions to retire or reserve farmland from production. Other times, social planners offer incentive contracts for the adoption of best management plans. Taxes may be used to influence landowners’ development decisions, too. Heterogeneous attributes of landowners as hidden information create challenges to social planners in designing cost-effective policy tools. Landowners have better information and make use of this advantage to maximize private benefits, which limits the performance of these policies, measured by different metrics. The three essays evaluate those policy tools and investigate the heterogeneity and asymmetric information problem in land economics.