IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/30016.html
   My bibliography  Save this paper

Decision Making under Ecological Regime Shift: An Experimental Economic Approach

Author

Listed:
  • Kawata, Yukichika

Abstract

Environmental economics postulates the assumption of homo economicus and presumes that externality occurs as a result of the rational economic activities of economic agents. This paper examines this assumption using an experimental economic approach in the context of regime shift, which has been receiving increasing attention. We observe that when externality does not exist, economic agents (subjects of experimemt) act economically rationally, but when externality exists, economic agents avoid the risk of a regime shift that would have negative consequences for others. Our results suggest that environmental economics may have to reconsider the assumption of homo economicus.

Suggested Citation

  • Kawata, Yukichika, 2011. "Decision Making under Ecological Regime Shift: An Experimental Economic Approach," MPRA Paper 30016, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:30016
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/30016/1/MPRA_paper_30016.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Robert H. Frank & Thomas Gilovich & Dennis T. Regan, 1993. "Does Studying Economics Inhibit Cooperation?," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 159-171, Spring.
    2. Bastien, Carlos & Cardoso, Jose Luis, 2007. "From homo economicus to homo corporativus: A neglected critique of neoclassical economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(1), pages 118-127, February.
    3. Becker, Christian, 2006. "The human actor in ecological economics: Philosophical approach and research perspectives," Ecological Economics, Elsevier, vol. 60(1), pages 17-23, November.
    4. Robert H. Frank & Thomas D. Gilovich & Dennis T. Regan, 1996. "Do Economists Make Bad Citizens?," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 187-192, Winter.
    5. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    6. Venkatachalam, L., 2008. "Behavioral economics for environmental policy," Ecological Economics, Elsevier, vol. 67(4), pages 640-645, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    homo economicus; unboundedly rational economic agents; regime shift; experimental economics;

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:30016. 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: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.