Common Pool Resources: Strategic Behavior, Inefficiencies, and Incomplete Information

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Ana Espinola-Arredondo (Washington State University) Felix Munoz-Garcia (Washington State University)

Common Pool Resources

Strategic Behavior, Inefficiencies, and Incomplete Information

Ana Espinola-Arredondo (Washington State University), Felix Munoz-Garcia (Washington State University)

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English

Cambridge University Press
21 October 2021

Economics & Business; Environmental economics; Energy & natural resources law

Common Pool Resources include, for instance, fishing grounds, irrigation systems, forests and the atmosphere. Now more than ever, how we responsibly share and use those goods is a vital issue. This textbook introduces students of economics, business and policy studies to the key issues in the field. It uses a game-theory approach to help readers understand the mathematical representation of how to find equilibrium behavior in CPRs, how to identify the socially optimal appropriation, and how to measure the inefficiencies that arise. Algebra and calculus steps are clearly explained, so students can more easily reproduce the analysis and apply it in their own research. Finally, the book also summarizes experimental studies that tested theoretical results in controlled environments, introducing readers to a literature that has expanded over the last decades, and provides references for further reading.

By: Ana Espinola-Arredondo (Washington State University), Felix Munoz-Garcia (Washington State University)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 229mm, Width: 151mm, Spine: 13mm
Weight: 340g
ISBN: 9781108926270
ISBN 10: 1108926274
Pages: 200
Publication Date: 21 October 2021
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Preface; 1. Introduction; 2. Common pool resources in a static setting; 3. Common pool resources in a dynamic setting; 4. Entry deterrence in the commons; 5. Repeated interaction in the commons; 6. Commons under incomplete information; 7. Signaling in the commons; Appendix A: game theory tools; Appendix B: solutions of selected end-of-chapter exercises.

Ana Espinola-Arredondo is a Professor in the School of Economic Sciences, Washington State University. Felix Munoz-Garcia is a Professor in the School of Economic Sciences, Washington State University.

Reviews for Common Pool Resources: Strategic Behavior, Inefficiencies, and Incomplete Information

'This textbook offers a great introduction to Common Pool Resources. It is a helpful tool that provides not only a step by step guide on how to solve CPR problems but also the economic interpretation of the results to help understand the intuition behind the outcomes.' Eleni Stathopoulou, Nottingham Trent University