On the Problem of Dependent People: hyperbolic discounting in Atlantic Canadian island jurisdictions
Prince Edward Island's Economics, Statistics and Federal Fiscal Relations Division's 33rd Annual Statistical Review reports the total value of 2006 fish landings was CAD $166.6 MM. This paper discloses a preliminary finding that the actual total value of fish landings for 2006 was approximately CAD 416.5 MM. Furthermore, this discourse submits that this entrenched systemic error has been consistently generated for all 33 years that the Annual Statistical Review has been published. Moreover, this systemic error creates a ripple-effect and promotes bias through all relative natural resource valuations. This significant conjecture is presented within an institutional context which serves as the foundation for this error generation, including other errors associated with The Problem of Induction and The Tragedy of the Commons. Within this broad context, this paper focuses upon deficient resource valuation methods, especially as they relate to dependency and valuation errors. Our analysis contrasts the failure of fishery management amongst dependent Canadian islanders,and the relative success of fishery management amongst independent Icelandic islanders. The possibilities that independent people enjoy higher levels of rationality, efficiency, happiness, economic sustainability, Darwinian fitness, resource holding power, and, are thus, ceteris paribus, less likely to commit errors associated with The Problem of Induction are taken into consideration. Likewise, consideration is given to the notion that dependent people are more likely to exhibit irrational behaviour, develop deeper dependencies, and to contribute to a wide array of maladaptive behaviours, such as those which exacerbate The Tragedy of the Commons.
|Date of creation:||20 Nov 2007|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roger Myerson, 2009. "Fundamental theory of institutions: a lecture in honor of Leo Hurwicz," Review of Economic Design, Springer, vol. 13(1), pages 59-75, April.
- Jon Danielsson, 2000.
"The Emperor has no Clothes: Limits to Risk Modelling,"
FMG Special Papers
sp126, Financial Markets Group.
- Danielsson, Jon, 2002. "The emperor has no clothes: Limits to risk modelling," Journal of Banking & Finance, Elsevier, vol. 26(7), pages 1273-1296, July.
- Bruno S. Frey & Alois Stutzer, 2001.
"What Can Economists Learn from Happiness Research?,"
CESifo Working Paper Series
503, CESifo Group Munich.
- Bruno S. Frey & Alois Stutzer, 2002. "What Can Economists Learn from Happiness Research?," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
- Bruno S. Frey & Alois Stutzer, . "What can Economists Learn from Happiness Research?," IEW - Working Papers 080, Institute for Empirical Research in Economics - University of Zurich.
- Scott Beaulier & Bryan Caplan, 2007. "Behavioral Economics and Perverse Effects of the Welfare State," Kyklos, Wiley Blackwell, vol. 60(4), pages 485-507, November.
- Bruno S. Frey & Christine Benesch & Alois Stutzer, .
"Does watching TV make us happy?,"
IEW - Working Papers
241, Institute for Empirical Research in Economics - University of Zurich.
- Arnason, Ragnar & Baldursson, Fridrik M. & Sturluson, Jon Thor, 2006. "Editorial," Journal of Economic Behavior & Organization, Elsevier, vol. 61(2), pages 145-148, October.
- Bruno S. Frey & Alois Stutzer, 2000.
"Happiness, Economy and Institutions,"
CESifo Working Paper Series
246, CESifo Group Munich.
- Baldacchino, Godfrey, 2006. "Innovative development strategies from Non-Sovereign Island jurisdictions? A global review of economic policy and governance practices," World Development, Elsevier, vol. 34(5), pages 852-867, May.
- Arnason, Ragnar & Hannesson, Rögnvaldur & Schrank, William E., 2000. "Costs of fisheries management: the cases of Iceland, Norway and Newfoundland," Marine Policy, Elsevier, vol. 24(3), pages 233-243, May.
- Ernst Fehr & Urs Fischbacher, 2004. "Social norms and human cooperation," Macroeconomics 0409026, EconWPA.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:14522. 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: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.