Communication in a Common Pool Resource Environment with Probabilistic Destruction
We replicate and extend an experiment due to Walker and Gardner by investigating the effect of communication in a common pool resource subject to probabilistic destruction when group appropriation exceeds a safe zone. We replicate the Gardner and Walker result that destruction of the resource is rapid and efficiencies are low when communication is not allowed. Face-to-face communication significantly increases mean efficiency. Three groups of five sustain a “good” Nash equilibrium in the safe zone. The remaining two groups quickly destroy the resource. Achieving a “good”equilibrium is highly dependent on the emergence of a leader in the group communication.
|Date of creation:||Feb 1996|
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- Walker, James M & Gardner, Roy, 1992. "Probabilistic Destruction of Common-Pool Resources: Experimental Evidence," Economic Journal, Royal Economic Society, vol. 102(414), pages 1149-61, September.
- Anthony Scott, 1955. "The Fishery: The Objectives of Sole Ownership," Journal of Political Economy, University of Chicago Press, vol. 63, pages 116.
- John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, June.
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