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Market dynamics, dynamic resource management and environmental policy in the context of (strong) sustainability

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  • Torben Klarl

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    Abstract

    In this paper, we investigate the relationship between market dynamics, dynamic resource management and environmental policy. In contrast to static market entry games, this paper draws attention to the effects of market dynamics on resource dynamics et vice versa, because (1) we show that feedback processes are necessary for obtaining a better understanding of what drives the dynamics between the evolution of common-pool resources and the number of harvesters and more importantly, (2) this analysis provides an environment discussing sustainability in an appropriate inasmuch dynamic way. The paper makes the following points: based on a co-evolutionary model, which incorporates resource and market dynamics simultaneously, it is shown that an increasing number of harvesters does not necessarily imply a lower stock of the common-pool resource in the long run. Further it is shown that a tax-scheme establish an output-sharing solution for coping with the overuse of common-pool resources. This results is in contrast to the prevailing literature, which mainly discusses tax-schemes and out-sharing as substitutes rather than as complements for solving the commons-problem. This conclusion holds even if we additionally assume harvesting-cost-reducing technological progress. On the other side if policy interventions ceased, strong resource sustainability in the sense of resource conservation is not possible, given technological progress is a relevant issue. Copyright Springer-Verlag 2013

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    File URL: http://hdl.handle.net/10.1007/s00191-012-0278-0
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Evolutionary Economics.

    Volume (Year): 23 (2013)
    Issue (Month): 4 (September)
    Pages: 861-888

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    Handle: RePEc:spr:joevec:v:23:y:2013:i:4:p:861-888

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    Related research

    Keywords: Sustainability; Resource management; Environmental policy; Common resources; Population dynamics; B52; Q22; Q28; Q57;

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    14. Walker, James M. & Gardner, Roy & Ostrom, Elinor, 1990. "Rent dissipation in a limited-access common-pool resource: Experimental evidence," Journal of Environmental Economics and Management, Elsevier, vol. 19(3), pages 203-211, November.
    15. Heintzelman, Martin D. & Salant, Stephen W. & Schott, Stephan, 2009. "Putting free-riding to work: A Partnership Solution to the common-property problem," Journal of Environmental Economics and Management, Elsevier, vol. 57(3), pages 309-320, May.
    16. Lucas Bretschger & Sjak Smulders, 2007. "Sustainable Resource Use and Economic Dynamics," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 36(1), pages 1-13, January.
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