Fujisaki, Masatoshi; Katayama, Seiichi; Ohta, Hiroshi - Research Institute for Economics and Business … - 2005
In [6], Long and Katayama presented a model of exploitation of a common property resource, when agents can also invest in private and productive capital. They considered the case where the resource extracted from a common pool is non-renewable. In this paper, we try to extend their result to the...