An Experimental Analysis of Optimal Renewable Resource Management: The Fishery

Hey, John D. and Neugebauer, Tibor and Sadrieh, Abdolkarim (2008) An Experimental Analysis of Optimal Renewable Resource Management: The Fishery. [Discussion Paper]. p. 31. LSF Research Working Paper Series (No. 08-10).

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This paper experimentally studies the extraction decisions of a sole-owner ina fishery, the population dynamics of which behave according to the standard deterministic logistic growth model. Four treatments were implemented which differed in the level of information supplied to the experimental subjects. The theoretical solution was used to evaluate the behaviour of experimental subjects. The data reveal high efficiency losses due to the lack of information on population dynamics and stock size. Efficiency varied between treatments according to the information conditions.

Item Type: Report / Paper (Discussion Paper)
Research documents and activity classification: Working Papers > Refereed Working Papers / of international relevance
Divisions: Department of Business and Management
Additional Information: The paper has been published as: John Hey & Tibor Neugebauer & Abdolkarim Sadrieh, 2009. "An Experimental Analysis of Optimal Renewable Resource Management: The Fishery," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 44(2), pages 263-285, October.
Uncontrolled Keywords: Experimental economics, renewable resources, dynamic decision making, decisions under risk and uncertainty, misperceptions of feedback.
MIUR Scientific Area: Area 13 - Economics and Statistics > SECS-P/01 Political Economy
Deposited by: Maria Teresa Nistico
Date Deposited: 06 Dec 2010 15:22
Last Modified: 22 Apr 2015 00:13

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