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Games and Resources

Author

Listed:
  • Bård Harstad
  • Matti Liski

Abstract

This article presents a sequence of simple and related models to analyze the strategic use of natural resources. Game theory is the natural tool for such an analysis, whether the resource is private or publicly owned, whether it is renewable or exhaustible, whether the game is static or dynamic, and whether or not the users can strategically invest in technologies. Equilibrium extraction is too large and comes too early for public resources, but the opposite is true for private resources. The effects add up nicely when the resource has both private and public-good aspects.

Suggested Citation

  • Bård Harstad & Matti Liski, 2012. "Games and Resources," NBER Working Papers 18519, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:18519
    Note: EEE PE POL
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    File URL: http://www.nber.org/papers/w18519.pdf
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    Cited by:

    1. Pintassilgo, Pedro & Laukkanen, Marita & Kronbak, Lone Grønbæk & Lindroos, Marko, 2015. "International Fisheries Agreements and Non-consumptive Values," Discussion Papers on Economics 8/2015, University of Southern Denmark, Department of Economics.

    More about this item

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General

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