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Persistent link: https://www.econbiz.de/10001638629
This paper examines a dynamic game of exploitation of a common pool of some renewable asset by agents that sell the result of their exploitation on an oligopolistic market. A Markov Perfect Nash Equilibrium of the game is used to analyze the effects of a merger of a subset of the agents. We...
Persistent link: https://www.econbiz.de/10010434092
We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...
Persistent link: https://www.econbiz.de/10010364769
We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...
Persistent link: https://www.econbiz.de/10010370150
We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...
Persistent link: https://www.econbiz.de/10010370317
Persistent link: https://www.econbiz.de/10010415742
We consider a common-pool renewable resource differential game. We show that within this dynamic oligopolistic framework, free trade may lead to a lower discounted sum of consumer surplus and of social welfare than autarky. Trade restrictions may be supported based on both resource conservation...
Persistent link: https://www.econbiz.de/10012869526
We use a Stackelberg differential game to model trade in renewable resources between a monopsonistic buyer and a monopolistic seller. The buyer uses unit and ad valorem tariffs to indirectly encourage conservation of the resource under study. First, we show that the efficacy of these tariffs in...
Persistent link: https://www.econbiz.de/10012707917
We use a Stackelberg differential game to model trade in renewable resources between a monopsonistic buyer and a monopolistic seller. The buyer uses unit and ad valorem tariffs to indirectly encourage conservation of the resource under study. First, we show that the efficacy of these tariffs in...
Persistent link: https://www.econbiz.de/10014219339
This series of three classroom experiments demonstrates the tragedy of the commons and suggests two possible solutions: communication and individual property rights. In the first and second experiments, students jointly own a renewable resource in the form of a plate of M&Ms. Communication is...
Persistent link: https://www.econbiz.de/10014069972