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Competing For Endogenous Information In An Irreversible Environmental Resource Problem: A Game-Theoretic Analysis

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Author Info
GIUSEPPE ATTANASI () (LERNA, Toulouse School of Economics, Manufacture des Tabacs, 21 Allee de Brienne, Toulouse, 31000, France; LEE/LINEEX, Universitat Jaume I, Campus Riu Sec, Castellon, 12071, Spain)
ALDO MONTESANO () (Department of Economics, Bocconi University, via U. Gobbi, 5, Milan, 20136, Italy)
Abstract

The paper analyzes strategic behavior in a two-stage environmental choice problem under different information scenarios. Given uncertainty about environmental cost and irreversibility of development, "learning without destroying" emerges from strategic competition when information is endogenous and publicly available. This happens since agents trade off the higher payoff of being the first-mover against the potentially free acquisition of endogenous information without developing their own environmental endowment. We prove that in a 2X2 dynamic environmental game with payoff uncertainty and irreversibility publicly available endogenous information could lead players to destroy less in aggregate terms with respect to the case in which information is exogenous.

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Publisher Info
Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 10 (2008)
Issue (Month): 03 ()
Pages: 229-243
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Handle: RePEc:wsi:igtrxx:v:10:y:2008:i:03:p:229-243

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Related research
Keywords: Public endogenous information; irreversibility; testing value; Subject Classification: C72; Subject Classification: D81; Subject Classification: Q32;

Find related papers by JEL classification:
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
C0 - Mathematical and Quantitative Methods - - General
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D5 - Microeconomics - - General Equilibrium and Disequilibrium
D7 - Microeconomics - - Analysis of Collective Decision-Making
M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics

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