This study uses economics experiments to extend the literature on common-pool resources by focusing on entry investment behavior in a stylized, spatially explicit aquifer. The model consists of a two-stage game, where participants make an entry decision in the first stage and, if they choose to...

The consequences of environmental and energy policies in the U.S. can be severely constrained by physical limits of the electric power grid. Flows do not follow the shortest path but are distributed over all lines in accordance with the laws of physics, so grid operators must select which...