Algorithm of Ecocompensation in Sloping Land Conversion Program Based on Heckman’s Two-Step Model

Table 1

Design of conservation auction.

Payment type	Discriminatory auction
Bid setting	A reserve price is set
Auction type	Sealed bid procurement auction
Auction budget	Unknown
Auction rounds	1 round (a trial before the formal experiment)
Number of bidders	Fixed
Bid unit	1 mu
Decision-making environment	Peasant households make individual decisions in their own places of residence, without any exchange of other information between households during the whole decision-making process