We develop a spatial resource model in continuous time in which two agents strategically exploit a mobile resource in a two-location setup. In order to contrast the overexploitation of the resource (the tragedy of commons) that occurs when the player are free to choose where to...

A wide variety of policies have spatially concentrated costs and diffuse benefits. In many cases, such policies exhibit severe governance failures. We present a formal model to investigate how these policy failures relate to institutions for resident participation. In the model, residents of two...