Revenue raising auction processes for public goods
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United States of America Patent
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Apr 23, 2013
Grant Date -
Jul 1, 2010
app pub date -
Dec 8, 2009
filing date -
Dec 8, 2008
priority date (Note) -
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Abstract
A computer system for a pricing and auction process allows private enterprise firms to establish an individual price for each consumer paying in to support delivery of the same units of a public good. The process solicits bids from individuals who value a public good, while reducing each individual's incentives to free ride, thereby increasing their incentives to bid or offer a payment that approaches their full value for each, successive unit of the good. Examples include farmers selling the services of land for wildlife habitat, farmers altering production processes to reduce pesticides and nutrients and increase local water quality, particularly during transition from technologically intensive farming to organic farming, or businesses established to help neighborhoods and communities become carbon neutral in a global economy. The process benefits profit or non-profit organizations supporting conservation such as wetland and salt marsh restoration or restoration of endangered species habitat.
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