Governing a Groundwater Commons: A Strategic and Laboratory Analysis of Western Water Law
AbstractThe authors examine strategic behavior in groundwater depletion within the setting of state governance of groundwater resources in the American West. Solving a dynamic common-pool resource model for its optimal solution and its subgame perfect equilibrium provides benchmarks for behavior observed in laboratory experiments. Three forms of legal rules--common-pool depletion with a 'rule-of-capture' to establish ownership (absolute ownership doctrine), entry restrictions (prior appropriation doctrine), and stock quotas (correlative rights doctrine)--are examined in terms of their impact on individual strategic behavior in laboratory experiments. Copyright 1997 by Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 35 (1997)
Issue (Month): 2 (April)
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