In March, 2001 the first Flint River Drought Protection Act Auction was conducted. This iterative sealed offer auction was held at eight sites in the Flint River Basin. Several hundred farmers participated, and a total of 33,006 acres were taken out of irrigation at an average cost of $136 per acre. This report describes some factors that led us to consider alternative auction institutions, the results of laboratory experiments that explore different auction rules, and the eventual outcome of the 2002 Irrigation Auction. Working Paper # 2002-012
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- Copyright 2002 Environmental Policy Group at the Andrew Young School of Policy Studies
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