Common-pool resources are intrinsically unstable
Bibliographic Data
| ID | 12960413 |
|---|---|
| Authors | Tatsuyoshi Saijo (0000-0001-7216-5611, Kochi University of Technology, corresponding author), Feng Jun (0000-0002-7626-7540, Kochi University of Technology), Yutaka Kobayashi (0000-0001-6587-441X, Kochi University of Technology) |
| Year | 2017 |
| Volume | 11 |
| Issue | 2 |
| Pages | 597-620 |
| Publication date | 2017-09-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of the Commons (JOURNAL) |
| Journal identifiers | ISSN: 1875-0281 • E-ISSN: 1875-0281 |
| Publisher | Ubiquity Press, Ltd. (PUBLISHER) |
| DOI | 10.18352/ijc.692 |
| OpenAlex | W2693998342 |
| Language | EN |
| References cited | 34 |
Efficient allocations in common-pool resources cannot be accomplished when appropriators are selfish. In addition, we find that a system of a common-pool resource is locally unstable if there are four or more appropriators. Such instability most likely makes efficiency worse than that in the Nash equilibrium. These results indicate that equilibrium analyses might not capture the essence of the common-pool resource problem. They may also provide an answer to the unexplained pulsing behavior among appropriators and inefficiency observed in experiments
Common-pool resource · Economics · Inefficiency · Instability · Mathematical economics · Mechanics · Microeconomics · Nash equilibrium · Natural resource economics · Physics · Resource (disambiguation · Auction Theory and Applications · Computer Science · Experimental Behavioral Economics Studies · Game Theory and Applications
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Probabilistic Destruction of Common-pool Resources
An Intercultural Examination of Cooperation in the Commons
Covenants with and without a Sword
| Citation velocity | historical |
|---|---|
| Highly cited | No |