Studying Economics Reduces Overexploitation in a Common Resource ExperimentReport as inadecuate




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This paper studies the economical behavior of agents, who make decisions regarding the sustainability of Common-Pool Resources CPR. For this purpose, economical experiments are applied to simulate the yield of a CPR taking into account the influence of economical training on the learning process of individuals regarding their decisions for sustainability. Based on a non-cooperative game with simultaneous choices, the results of experiments show that after several rounds the existence of economical knowledge reflects a better learning process for making decisions regarding sustainability of CPR.

KEYWORDS

Common-Pool Resources; Non-Cooperatives Games; Learning Processes

Cite this paper

N. Georgantzis, J. Arroyo-Mina and D. Guerrero -Studying Economics Reduces Overexploitation in a Common Resource Experiment,- Theoretical Economics Letters, Vol. 3 No. 5B, 2013, pp. 31-39. doi: 10.4236-tel.2013.35A2006.





Author: Nikolaos Georgantzis, José Santiago Arroyo-Mina, Daniel Guerrero

Source: http://www.scirp.org/



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