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Tipping points and business-as-usual in a global commons

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  • Harrison, Rodrigo
  • Lagunoff, Roger

Abstract

This paper analyzes a dynamic strategic model of resource extraction from a global commons. Countries derive benefits from both direct extraction and aggregate conservation of an open access resource. Each period, a country’s output depends both on its resource usage and on the global stock of the resource stored within the ecosystem. Leading examples are ocean fisheries, habitat preservation, forestry, and land carbon biomass. The production coefficients on these inputs vary across countries and evolve stochastically over time.

Suggested Citation

  • Harrison, Rodrigo & Lagunoff, Roger, 2019. "Tipping points and business-as-usual in a global commons," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 386-408.
    • Handle: RePEc:eee:jeborg:v:163:y:2019:i:c:p:386-408
    DOI: 10.1016/j.jebo.2019.05.015
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    Cited by:

    1. Chu Li & Wenjin Shen, 2024. "How to Perceive National Governance Networks in the Global Commons of the Earth’s Surface: A Case Study of the Antarctic," Land, MDPI, vol. 13(2), pages 1-20, February.

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    More about this item

    Keywords

    Ocean fisheries; Resource extraction; Global carbon commons; Tipping points; Safe operating space for humanity; Business-as-usual equilibrium;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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