Competing For Endogenous Information In An Irreversible Environmental Resource Problem: A Game-Theoretic Analysis
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.
Volume (Year): 10 (2008)
Issue (Month): 03 ()
|Contact details of provider:|| Web page: http://www.worldscinet.com/igtr/igtr.shtml|
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:wsi:igtrxx:v:10:y:2008:i:03:p:229-243. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tai Tone Lim)
If references are entirely missing, you can add them using this form.