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Elephants

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Listed:
  • Kremer, M.
  • Morcom, C.

Abstract

Existing models of open-access resources are applicable to non- storable resources, such as fish. Many open-access resources, however, are used to produce storable goods. Elephants, rhinos, and tigers are three prominent examples. Anticipated future scarcity of these resources will increase current prices, and current poaching. This implies that, for given initial conditions, there may be rational expectations equilibria leading both to extinction and to survival. Governments may be able to eliminate extinction equilibria by promising to implement tough anti-poaching measures if the population falls below a threshold. Alternatively, they, or private agents, may be able to eliminate extinction equilibria by accumulating a sufficient stockpile of the storable good.

Suggested Citation

  • Kremer, M. & Morcom, C., 1996. "Elephants," Working papers 96-17, Massachusetts Institute of Technology (MIT), Department of Economics.
    • Handle: RePEc:mit:worpap:96-17
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    References listed on IDEAS

    as
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      • Michael Kremer & Charles Morcom, 1996. "Elephants," NBER Working Papers 5674, National Bureau of Economic Research, Inc.
      • Kremer, M. & Morcom, C., 1996. "Elephants," Working papers 96-17, Massachusetts Institute of Technology (MIT), Department of Economics.
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    More about this item

    Keywords

    ENVIRONMENT; ANIMALS; NATURAL RESOURCES;
    All these keywords.

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q29 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Other
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General
    • Q39 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Other

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