A Dynamic Study on Ecological Disaster, Government Regulation, and Renewable Resources
Bibliographic Data
| ID | 2824692 |
|---|---|
| Authors | Pu‐yan Nie (0000-0002-6214-5980, Institute of Industrial Economics Jinan University PR China, corresponding author), Peng Sun (0000-0002-0615-2510, Institute of Industrial Economics Jinan University PR China), B Yang (0000-0002-5749-3622, Zhongnan University of Economics and Law), Bill Z Yang (Department of Finance and Economics Georgia Southern University USA) |
| Year | 2014 |
| Volume | 73 |
| Issue | 2 |
| Pages | 410-442 |
| Publication date | 2014-04-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | American Journal of Economics and Sociology (JOURNAL) |
| Journal identifiers | ISSN: 0002-9246 • E-ISSN: 1536-7150 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ajes.12075 |
| OpenAlex | W2116207274 |
| Language | EN |
| References cited | 23 |
This article develops a dynamic model to investigate renewable resource markets under different property rights. We find that different property rights regimes in renewable resource markets yield very different equilibria. Under private property rights, the valve point increases with the natural growth rate, productivity, number of firms, and marginal costs. Under common property rights, "the tragedy of the commons" inescapably occurs. This study suggests how to avoid ecological disaster by implementing a set of public policies
Business · Commons · Economic growth · Economics · Government (linguistics) · Market economy · Microeconomics · Natural resource · Natural resource economics · Productivity · Property rights · Renewable energy · Renewable resource · Resource (disambiguation) · Resource allocation · Resource productivity · Tragedy of the commons · Yield (engineering) · Agricultural risk and resilience · Ecology · Economic theories and models · Natural Resources and Economic Development
The Environment and Directed Technical Change
Some Considerations of Population Dynamics and Economics in Relation to the Management of the Commercial Marine Fisheries
Environmental Accounting for Pollution in the United States Economy
The economic theory of a common-property resource
Natural resource accounting for Indian states — Illustrating the case of forest resources
The Tragedy of the Commons
| Citation velocity | historical |
|---|---|
| Highly cited | No |