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Ambiguity, Social Opinion and the Use of Common Property Resources

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  • Dimitrios Diamantaras

    ()
    (Department of Economics, Temple University)

  • Robert P. Gilles

    ()
    (Management School, Queen's University)

Abstract

In this paper we argue that ambiguity, combined with social opinion formation can be represented as part of a game-theoretic equilibrium concept that transcends the standard Nash equilibrium concept, applied to a model of the tragedy of the commons. Our modeling can shed some light on the international environment crisis and the relevant ongoing international negotiations. We conclude that social opinion formation in most cases has a significant impact on equilibrium common property resource usage.

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File URL: http://www.cla.temple.edu/RePEc/documents/detu_10_06.pdf
File Function: First version, 2010
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Bibliographic Info

Paper provided by Department of Economics, Temple University in its series DETU Working Papers with number 1006.

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Date of creation: Apr 2010
Date of revision:
Handle: RePEc:tem:wpaper:1006

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Keywords: Externalities; environment; ambiguity; ambiguity equilibrium;

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References

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  1. Armin Falk & Ernst Fehr & Urs Fischbacher, 2001. "Appropriating the Commons A Theoretical Explanation," CESifo Working Paper Series 474, CESifo Group Munich.
  2. Chateauneuf, Alain & Eichberger, Jurgen & Grant, Simon, 2007. "Choice under uncertainty with the best and worst in mind: Neo-additive capacities," Journal of Economic Theory, Elsevier, vol. 137(1), pages 538-567, November.
  3. Jürgen Eichberger & David Kelsey & Burkhard Schipper, 2008. "Granny Versus Game Theorist: Ambiguity in Experimental Games," Theory and Decision, Springer, vol. 64(2), pages 333-362, March.
  4. Jurgen Eichberger & David Kelsey & Burkhard C. Schipper, 2005. "Ambiguity and Social Interaction," Discussion Papers 0504, Exeter University, Department of Economics.
  5. Jurgen Eichberger & David Kelsey, 2006. "Optimism and Pessimism in Games," Discussion Papers 0605, Exeter University, Department of Economics.
  6. David Schmeidler, 1989. "Subjective Probability and Expected Utility without Additivity," Levine's Working Paper Archive 7662, David K. Levine.
  7. Eichberger, Jurgen & Kelsey, David, 2000. "Non-Additive Beliefs and Strategic Equilibria," Games and Economic Behavior, Elsevier, vol. 30(2), pages 183-215, February.
  8. Alistair Ulph, 2004. "Stable International Environmental Agreements with a Stock Pollutant, Uncertainty and Learning," Journal of Risk and Uncertainty, Springer, vol. 29(1), pages 53-73, 07.
  9. Jürgen Eichberger & David Kelsey, 2008. "Are the Treasures of Game Theory Ambiguous?," Working Papers 0469, University of Heidelberg, Department of Economics, revised Jul 2008.
  10. Kolstad, Charles D., 2007. "Systematic uncertainty in self-enforcing international environmental agreements," Journal of Environmental Economics and Management, Elsevier, vol. 53(1), pages 68-79, January.
  11. Pan, Zhengzheng, 2010. "Trust, influence, and convergence of behavior in social networks," Mathematical Social Sciences, Elsevier, vol. 60(1), pages 69-78, July.
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Cited by:
  1. Takanori Adachi & Takao Asano, 2011. "Entrepreneurial Choice and Knightian Uncertainty with Borrowing Constraints," KIER Working Papers 803, Kyoto University, Institute of Economic Research.

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