An exploratory search for explanations of mismanagement of renewable resources, other than the theory of the commons, was performed by an experiment. Eighty three subjects, mostly recruited from the fisheries sector in Norway, were asked to manage the same simulated virgin fish stock, one...

In the face of global or regional environmental problems, do countries that take unilateral actions inspire other countries to curtail emissions? The effect of leadership at the individual level is investigated by the use ofa novel design ofa laboratory public bad experiment with a leader....

Environmentalists often urge their home countries to take a leading role in reducing global environmental problems like climate change. A pertinent question is, Will examples set by leading nations influence others to follow suit, and if so, do the costs of leading matter? For instance, will...

Climate policy recommendations differ widely because of disagreements over what discount rates to use. Disagreement reduces the impact of economic models and signals a need for improved methodology. The problem is related to the choice of intergenerational welfare functions. A first...

We examine market behavior in a series of cobweb-like experiments. As in previous studies we find no cyclicality in the simple supply lag design with five players. Step by step we add investment lags and capacity vintages, and thus external validity to the basic design. As complexity increases,...