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Strategic Preemption in a Common Property Resource: A Continuous Time Approach

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Author Info
Charles Mason
Stephen Polasky
Abstract

The threat of future entry affects the exploitation of common property resources in important ways. An incumbent has a strategic incentive to manipulate the resource stock to deter entry or to harvest more stock prior to entry rather than share the resource with the entrant. It is possible that the threat of potential entry can lead to the extinction of the resource even though actual competition would result in a steady state with a positive stock level. Copyright Kluwer Academic Publishers 2002

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File URL: http://hdl.handle.net/10.1023/A:1021288205689
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 23 (2002)
Issue (Month): 3 (November)
Pages: 255-278
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Handle: RePEc:kap:enreec:v:23:y:2002:i:3:p:255-278

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  1. Dockner, Engelbert & Feichtinger, Gustav & Mehlmann, Alexander, 1989. "Noncooperative solutions for a differential game model of fishery," Journal of Economic Dynamics and Control, Elsevier, vol. 13(1), pages 1-20, January. [Downloadable!] (restricted)
  2. Dockner Engelbert J. & Van Long Ngo, 1993. "International Pollution Control: Cooperative versus Noncooperative Strategies," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 13-29, July. [Downloadable!] (restricted)
  3. Gilbert, Richard J. & Goldman, Steven M., 1978. "Potential competition and the monopoly price of an exhaustible resource," Journal of Economic Theory, Elsevier, vol. 17(2), pages 319-331, April. [Downloadable!] (restricted)
  4. Polasky, Stephen & Bin, Okmyung, 2001. "Entry Deterrence and Signaling in a Nonrenewable Resource Model," Journal of Environmental Economics and Management, Elsevier, vol. 42(3), pages 235-256, November. [Downloadable!] (restricted)
  5. Milgrom, Paul & Roberts, John, 1982. "Limit Pricing and Entry under Incomplete Information: An Equilibrium Analysis," Econometrica, Econometric Society, vol. 50(2), pages 443-59, March. [Downloadable!] (restricted)
  6. Mason, Charles F & Polasky, Stephen, 1994. "Entry Deterrence in the Commons," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(2), pages 507-25, May. [Downloadable!] (restricted)
  7. Elinor Ostrom, 2000. "Collective Action and the Evolution of Social Norms," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 137-158, Summer. [Downloadable!] (restricted)
  8. Richard J. Gilbert., 1988. "Mobility Barriers and the Value of Incumbency," Economics Working Papers 8895, University of California at Berkeley.
    Other versions:
  9. Wiggins, Steven N & Libecap, Gary D, 1985. "Oil Field Unitization: Contractual Failure in the Presence of Imperfect Information," American Economic Review, American Economic Association, vol. 75(3), pages 368-85, June. [Downloadable!] (restricted)
  10. Karp, Larry, 1992. "Social Welfare in a Common Property Oligopoly," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(2), pages 353-72, May. [Downloadable!] (restricted)
  11. Clark, Colin W & Clarke, Frank H & Munro, Gordon R, 1979. "The Optimal Exploitation of Renewable Resource Stocks: Problems of Irreversible Investment," Econometrica, Econometric Society, vol. 47(1), pages 25-47, January. [Downloadable!] (restricted)
  12. Crabbe, P. & Van Long, N., 1991. "Entry Deterrence and Overexploitation of the Fishery," Papers 9101, Ottawa - Departement des Sciences Economiques.
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  13. Berck, Peter & Perloff, Jeffrey M, 1984. "An Open-Access Fishery with Rational Expectations," Econometrica, Econometric Society, vol. 52(2), pages 489-506, March. [Downloadable!] (restricted)
  14. Clark, Colin W, 1973. "Profit Maximization and the Extinction of Animal Species," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 950-61, July-Aug.. [Downloadable!] (restricted)
  15. Tsutsui, Shunichi & Mino, Kazuo, 1990. "Nonlinear strategies in dynamic duopolistic competition with sticky prices," Journal of Economic Theory, Elsevier, vol. 52(1), pages 136-161, October. [Downloadable!] (restricted)
  16. Clark, Colin W. & Munro, Gordon R., 1978. "Renewable resource management and extinction," Journal of Environmental Economics and Management, Elsevier, vol. 5(2), pages 198-205, June. [Downloadable!] (restricted)
  17. Gilbert, Richard J & Newbery, David M G, 1982. "Preemptive Patenting and the Persistence of Monopoly," American Economic Review, American Economic Association, vol. 72(3), pages 514-26, June. [Downloadable!] (restricted)
  18. Charles F. Mason & Stephen Polasky, 1997. "The Optimal Number of Firms in the Commons: A Dynamic Approach," Canadian Journal of Economics, Canadian Economics Association, vol. 30(4), pages 1143-60, November. [Downloadable!] (restricted)
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  1. Stephen Polasky & Nori Tarui & Gregory Ellis & Charles Mason, 2006. "Cooperation in the commons," Economic Theory, Springer, vol. 29(1), pages 71-88, September. [Downloadable!] (restricted)
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