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prospects of a resource. We focus on Markov-perfect strate- gies under truthful revelation of beliefs. For reasonable initial … conditions, exogenously shif- ting the prior beliefs of one player towards more pressimism about the potential of natural … higher than before the pessimistic shift in beliefs of that single player. Due to this weakness in strategic conservation …
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The purpose of this paper is to model the influence of Kantian moral scruples in a dynamic environment. Our objectives are two-fold. Firstly, we investigate how a Nash equilibrium among agents who have moral scruples may ensure that the exploitation of a common property renewable resource is...
Persistent link: https://www.econbiz.de/10012119755
The purpose of this paper is to model the influence of Kantian moral scruples in a dynamic environment. Our objectives are twofold. Firstly, we investigate how a Nash equilibrium among agents who have moral scruples may ensure that the exploitation of a common-property renewable resource is...
Persistent link: https://www.econbiz.de/10012429634
prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response …
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prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response …
Persistent link: https://www.econbiz.de/10008764309