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Cooperation in the Commons

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Type: Working Paper
Author: Polasky, Stephen; Tarui, Nori; Ellis, Gregory; Mason, Charles
Date: 2006
Series: Working Paper, no. 07-11
URI: https://hdl.handle.net/10535/4456
Sector: Theory
Subject(s): common pool resources
game theory
Abstract: "This paper delineates circumstances in which a first-best cooperative solution can be supported as a subgame perfect equilibrium in a dynamic common property renewable resource game. In a game with nonlinear resource stock effects on cost, we characterize a worst perfect equilibrium that supports cooperation for the widest range of parameter values for the discount rate, resource growth rate, harvest price, and the number of resource exploiters. The strategy profile that we propose is consistent with human behavior observed in experiments and common property resource case studies."

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