Present Bias in Renewable Resources Management Reduces Agent’s Welfare
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More about this item
Keywords
Present bias; naive agent; intertemporal choice; harvesting; dual system discounting; agent’s welfare; instant utility.;All these keywords.
JEL classification:
- D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
- D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBE-2020-01-20 (Cognitive and Behavioural Economics)
- NEP-ENV-2020-01-20 (Environmental Economics)
- NEP-UPT-2020-01-20 (Utility Models and Prospect Theory)
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