Designing combinatorial exchanges for the reallocation of resource rights [Economic Sciences]

We describe the design and implementation of a combinatorial exchange for trading catch shares in New South Wales, Australia. The exchange ended a decades-long political debate by providing a market-based response to a major policy problem faced by fisheries worldwide: the reallocation of catch shares in cap-and-trade programs designed to...
Source: Proceedings of the National Academy of Sciences - Category: Science Authors: Tags: Social Sciences Source Type: research