Regulation and Evolution of Compliance in Common Pool Resources
AbstractThe evolution of compliance with regulation and the evolution of a CPR stock are modeled jointly in a setup where replicator dynamics describing compliance with harvesting rules are combined with resource stock dynamics. This evolutionary approach suggests that in long-run equilibrium, coexistence of both cooperative and non-cooperative rules is possible under regulation. Stock effects on profits and a certain structure of auditing probabilities could imply the emergence of a limit cycle in areas of low stock levels, as an equilibrium outcome. It might be easier for the regulator to obtain full compliance under precommitment to fixed auditing probabilities. Copyright The editors of the "Scandinavian Journal of Economics", 2005 .
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal The Scandinavian Journal of Economics.
Volume (Year): 107 (2005)
Issue (Month): 3 (09)
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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
Other versions of this item:
- Anastasios Xepapadeas, . "Regulation and Evolution of Compliance in Common Pool Resources," Working Papers 0312, University of Crete, Department of Economics.
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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