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Games and Resources
Harstad, Bård - 2012
This article presents a sequence of simple and related models to analyze the strategic use of natural resources. Game theory is the natural tool for such an analysis, whether the resource is private or publicly owned, whether it is renewable or exhaustible, whether the game is static or dynamic,...
Persistent link: https://www.econbiz.de/10012460141
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Discretionary Policy and Multiple Equilibria
King, Robert G. - 2006
Discretionary policymaking can foster strategic complementarities between private sector decisions, thus leading to multiple equilibria. This article studies a simple example, originating with Kydland and Prescott, of a government which must decide whether to build a dam to prevent adverse...
Persistent link: https://www.econbiz.de/10012466593
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The Political Economy of Responses to COVID-19 in the U.S.A.
Cui, Zhihan; Heal, Geoffrey; Kunreuther, Howard; Liu, Lu - National Bureau of Economic Research - 2021
Social distancing via shelter-in-place strategies, and wearing masks, have emerged as the most effective non-pharmaceutical ways of combatting COVID-19. In the United States, choices about these policies are made by individual states. We develop a game-theoretic model and then test it...
Persistent link: https://www.econbiz.de/10012496132
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State Versus Private Ownership
Shleifer, Andrei - 1998
Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free enterprise. The great economists of the 1930s and 1940s...
Persistent link: https://www.econbiz.de/10012472146
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International Trade Between Consumer and Conservationist Countries
Brander, James - 1997
We consider trade between a consumer' country with an open access renewable resource and a conservationist' country that regulates resource harvesting to maximize domestic steady-state utility. In what we call the mild overuse' case, the consumer country exports the resource good and suffers...
Persistent link: https://www.econbiz.de/10012472812
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Elephants
Kremer, Michael - 1996
Existing models of open-access resources are applicable to non-storable resources, such as fish. Many open-access resources, however, are used to produce storable goods. Elephants, rhinos, and tigers are three prominent examples. Anticipated future scarcity of these resources will increase...
Persistent link: https://www.econbiz.de/10012473168
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Open Access Renewable Resources : Trade and Trade Policy in a Two-CountryModel
Brander, James A. - 1996
This paper develops a two-good, two-country model with national open access renewable resources. We derive an appropriate analog of `factor proportions' for the renewable resource case and link it to trade patterns and to the likelihood of diversified production. The resource importer gains from...
Persistent link: https://www.econbiz.de/10012473385
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Do Property Rights Alleviate the Problem of the Commons? Evidence from California Groundwater Rights
Ayres, Andrew B. - 2019
Property rights are widely prescribed for addressing overextraction of common pool resources, yet causal evidence of their effectiveness remains elusive. We develop a model of dynamic groundwater extraction to demonstrate how a spatial regression discontinuity design exploiting a...
Persistent link: https://www.econbiz.de/10012480212
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Non-Parametric Tests of the Tragedy of the Commons
Banzhaf, H. Spencer - 2019
-parametric tests of behavior consistent with the tragedy of the commons model. Our approach derives testable implications of such … to panel data of Norwegian fishers, we find evidence rejecting the tragedy of the commons model. Significantly, we find … commons …
Persistent link: https://www.econbiz.de/10012480342
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Green Technology Diffusion : A Post-Mortem Analysis of the Eco-Patent Commons
Contreras, Jorge L. - 2018
We revisit the effect of the "Eco-Patent Commons" (EcoPC) on the diffusion of patented environmentally friendly … patents covering 94 "green" inventions. Hall and Helmers (2013) suggested that the patents pledged to the commons had the … commons did not increase the diffusion of pledged inventions, and that the EcoPC suffered from several structural and …
Persistent link: https://www.econbiz.de/10012480922