Image Database Export Citations


Racing for the Water: Laboratory Evidence on Managing a Groundwater Commons

Show full item record

Type: Working Paper
Author: Gardner, Roy; Moore, Michael R.; Walker, James M.
Date: 1994
Agency: Workshop in Political Theory and Policy Analysis, Indiana University Bloomington, IN
Series: Working Paper W94-7
URI: https://hdl.handle.net/10535/5209
Sector: Water Resource & Irrigation
Subject(s): groundwater--models
water resources
game theory
Abstract: "This paper examines strategic behavior in the context of a dynamic common-pool resource game with a unique symmetric subgame equilibrium. Solving the model for its optimal solution and its subgame perfect equilibrium provides benchmarks for behavior observed in laboratory experiments. Baseline experiments, which portray a 'rule of capture' for establishing ownership with group size equal to 10, achieve an average efficiency of 30%. Experiments that restrict entry, with group size equal to 5, increase average efficiency to 44%. Experiments applying a stock quota show more marked improvement in efficiency, averaging 54%. The stock quota experiments come closest to producing data consistent with subgame perfection."

Files in this item

Files Size Format View
Racing for the ... ng groundwater commons.pdf 306.7Kb PDF View/Open

This item appears in the following document type(s)

Show full item record