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Classroom Games: The Allocation of Renewable Resources Under Different Property Rights and Regulation Schemes

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  • Kelly L. Giraud
  • Mark Herrmann

Abstract

The authors describe a renewable resource allocation game designed to stimulate students' interest in and understanding of market failure associated with open-access types of resource use. They also use the game to discuss the advantages and disadvantages of various property rights and regulation schemes. Because this exercise demonstrates the power of unregulated and regulated economic incentives, many types of students may benefit from this game, including undergraduates enrolled in the standard introductory and in more advanced microeconomics classes, as well as courses in environmental economics and natural resource economics. This game was specifically designed so that noneconomics majors in natural resource management and environmental courses could also benefit.

Suggested Citation

  • Kelly L. Giraud & Mark Herrmann, 2002. "Classroom Games: The Allocation of Renewable Resources Under Different Property Rights and Regulation Schemes," The Journal of Economic Education, Taylor & Francis Journals, vol. 33(3), pages 236-253, September.
    • Handle: RePEc:taf:jeduce:v:33:y:2002:i:3:p:236-253
    DOI: 10.1080/00220480209595189
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    References listed on IDEAS

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    1. Homans, Frances, 1993. "Modeling regulated open access resource use," Faculty and Alumni Dissertations 313184, University of Minnesota, Department of Applied Economics.
    2. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
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    Cited by:

    1. Boris Nikolaev, 2014. "Using Experiments and Media to Introduce Game Theory into the Principles Classroom," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 29(Spring 20), pages 149-160.
    2. Joshua M. Duke & David M. Sassoon, 2017. "A classroom game on a negative externality correcting tax: Revenue return, regressivity, and the double dividend," The Journal of Economic Education, Taylor & Francis Journals, vol. 48(2), pages 65-73, April.
    3. Lynne Y. Lewis, 2011. "Environmental and Natural Resource Economics: Teaching the Non-Major and Major Simultaneously," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 46, Edward Elgar Publishing.

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