Search Results - subject:"Tragedy of the Commons"

Think global, act local! : a mechanism for global commons and mobile firms

Ahlvik, Lassi; Liski, Matti - 2019

It is tricky to design local regulations on global externalities, especially so if firms are mobile. We show that when costs and outside options are firms' private information, the threat of firm relocation leads to local regulations that are stricter, not looser. This result is general and...

Persistent link: https://www.econbiz.de/10011996399

Class agency under conditions of self-enforcement : Marx on capitalists' common's problem

Ertürk, Korkut A. - 2019

Marx discussed institutional innovations in the context of a complex dynamic between inter versus intra-group opportunism, which contains clues for understanding how capacity for class agency develops. His lengthy discussion of the English Factory Acts in his Vol. I of Capital is an important...

Persistent link: https://www.econbiz.de/10011959900

A Revision Game of Experimentation on a Common Threshold

Chen, Yi - 2019

A revision game of experimentation is examined in which players search for an unknown threshold. Players encounter individual random opportunities to revise actions. Lower actions save flow cost, but the player whose action falls below the threshold suffers a costly breakdown and exits the game....

Persistent link: https://www.econbiz.de/10012896635

Do Environmental Markets Improve on Open Access?Evidence from California Groundwater Rights

Ayres, Andrew - 2019

Environmental markets are widely prescribed as an alternative to open-access regimes for natural resources. We develop a model of dynamic groundwater extraction to demonstrate how a spatial regression discontinuity design that exploits a spatially-incomplete market for groundwater rights...

Persistent link: https://www.econbiz.de/10012862850

Individualism and Governance of the Commons

Cai, Meina - 2019

Individualistic cultures are associated with economic growth and development. Do they also improve governance of the commons? According to the property rights literature, conservation is more likely when the institutions of property arise from a spontaneous process in response to local problems....

Persistent link: https://www.econbiz.de/10012862947

The Common Ownership Trilemma

Azar, José - 2019

This paper argues that it is impossible to achieve the following objectives simultaneously: (i) portfolio diversification, (ii) shareholder representation, and (iii) competition. In an economy where everyone holds the market portfolio, all the companies have the same shareholders. If, in...

Persistent link: https://www.econbiz.de/10012863066

Threshold and Group Size Uncertainty in Common-Pool Resources

Kidwai, Abdul H. - 2019

Threshold common pool resource dilemmas, such as fisheries or groundwater reserves, are important topic for policy-makers. Uncertainty about the threshold for sustainable use or number of resource users may exacerbate the overconsumption problem. We are first to investigate the joint impact of...

Persistent link: https://www.econbiz.de/10012865352

Common Ownership, Common Information Environment?

Jang, In Ji - 2019

We examine the influence of common ownership on commonalities in the information environment. Specifically, we study commonalities in financial statements and in the actions of key agents such as financial analysts and firm managers who contribute and respond to the information environment....

Persistent link: https://www.econbiz.de/10012866578

On the Impact of Trade in a Common Property Renewable Resource Oligopoly

Benchekroun, Hassan - 2019

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

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 … that rejection rates of the model increase after property rights reforms moved the fishery away from the tragedy of the …

Persistent link: https://www.econbiz.de/10012860448