Social and Behavioral Sciences Commons^™

Renewable Resource Extraction: Experimental Analysis Of Resource Management Policies Under Assumptions Of Resource Migration, Kevin B. Lugo

Gettysburg Economic Review

This paper presents research using a spatially explicit and dynamic common pool resource experiment to compare renewable resource extraction behavior between four treatments combining (1) open access and sole ownership institutions with (2) mobility and non-mobility of the renewable resource. The primary purpose of this research is to test the theory that introducing resource mobility into a sole ownership regime will remove the incentive for subjects to maximize the resource, instead causing them to revert to the myopic strategy predicted for the open access regime. I also test the hypothesis that open access firms are indifferent to resource dispersal. The …