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How humans behave in repeated strategic interactions, how they learn, how their decisions adapt, and how their decision-making evolves is a topic of fundamental interest in behavioral economics and behavioral game theory. The range of motives and decision-making principles that are at play in...
Persistent link: https://www.econbiz.de/10014422242
We test whether the decisions in a common-pool resource game are better modeled game- theoretically as strategic substitutes or complements using an individual-level dataset of groundwater usage that accounts for 3% of US irrigated agriculture. Based on a regression framework with instrumental...
Persistent link: https://www.econbiz.de/10014418068
We investigate the strategic nature of farmers' groundwater usage with a rich dataset from the American Midwest. We propose a new revealed preference test for the groundwater interaction as a dynamic game. We reject a view of groundwater usage decisions as strategic substitutes in favor of...
Persistent link: https://www.econbiz.de/10014418073