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The example algorithm below is intended to illustrate how dynamic complementarity values might be compared over time to costs discovered through an auction process. To run the algorithm, a government agency (or other institution) carries out the following policy actions: 1. calculate current complementarity values for all areas, relative to the current set of The example algorithm below is intended to illustrate how dynamic complementarity
values might be compared over time to costs discovered through an auction process. To
run the algorithm, a government agency (or other institution) carries out the following
policy actions:
1. calculate current complementarity values for all areas, relative to the current set of
existing protected areas (possibly including credits for partial protection from other
land uses; Faith and Walker, 1997)
2. carry out a "reverse auction", calling for bids from land owners willing to place their
land under some agreed form of protection (these bids define the payment amounts
owners are willing to accept).
3. nominate a numerical weighting on payment amounts, so that an area's payment times
weight can be quantitatively compared to the area's current complementarity value
(some or all bid-defined payment amounts, when multiplied by this weight, may
exceed the corresponding complementarity value and so may not warrant
conservation action).
4. for the same nominated weight, provisionally offer non-bidding land-owners
payments equal to their land's current complementarity divided by the weight (weight
times this offered payment then matches an area's current complementarity value).
5. select an area for a contract, among all areas either having made a payment-bid or
accepting an offered payment from (4), such that the complementarity of the selected
area maximally exceeds the corresponding weighted payment (or has the best ratio).
re-calculate all complementarity values after the area is selected
6. repeat steps (4) and (5) for other areas, until no area has a complementarity value
exceeding its weighted payment-bid, and no owners accept offered payments based
on this weight
7. if the target level of biodiversity protection has not been met, and/or revenue remains,
ask for new bids and then go to (5), or go to (8) if there are no further acceptable
payment-bids; otherwise stop
8. choose a smaller weighting and return to step (4), offering corresponding higher
payments.