The Efficiency of Direct Public Involvement in Environmental Policymaking: An Experimental Test
We use laboratory experiments to test whether a number of axiomatic models of bargaining can predict the behavior of the parties to environmental decision making. In recognition of the multi-dimensional aspect of most public land use conflicts, we ask pairs of subjects to negotiate over two goods, without the possibility of cash side payments. We thus provide one of the first experimental tests of a prediction associated with the Edgeworth Box: that parties with an initial endowment that is Pareto inefficient will make trades until they reach a Pareto efficient allocation. We further test whether parties in particular reach the Nash bargain when it coincides with or conflicts with outcomes that maximise the partiesâ€™ joint payoffs and with outcomes at which the partiesâ€™ receive equal payoffs. Finally, the effect of providing parties with full or partial information regarding payoffs is also examined.
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|Date of creation:||19 Jan 2008|
|Date of revision:||19 Jan 2008|
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