On the sustainability of common property resources
| Autor: | Montserrat Viladrich-Grau, Nuria Osés-Eraso |
|---|---|
| Rok vydání: | 2007 |
| Předmět: |
Economics and Econometrics
business.industry Environmental resource management Differential (mechanical device) Management Monitoring Policy and Law Environmental economics Natural resource Common-pool resource Sustainable management Sustainability Economics Cooperative behavior business Mechanism (sociology) Social capital |
| Zdroj: | Journal of Environmental Economics and Management. 53:393-410 |
| ISSN: | 0095-0696 |
| DOI: | 10.1016/j.jeem.2006.10.006 |
| Popis: | We provide a model where a common property resource is managed by two types of agents, cooperators and non-cooperators, who adjust their extraction strategies in response to persistent differential payoffs. In our model, the social approval of cooperators works as a reward mechanism which, as we show, favors both the pervasiveness of cooperative behavior and the sustainable management of natural resources. Specifically, we show that in the presence of such a reward mechanism a stable equilibrium can be reached with both strategies being practiced simultaneously and a decentralized and sustainable management of common property resources is possible. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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