Golden rule in cooperative commons
This paper considers common use of natural, renewable resources. It identifies good prospects for efficiency and welfare. To be precise, a core outcome -- hence cooperation -- can be secured over time by principal planning of total quotas, and in time by agents who share these in short-term markets....
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| Format: | Article |
| Language: | English |
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Society for the Promotion of Mechanism and Institution Design
2023-12-01
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| Series: | Journal of Mechanism and Institution Design |
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| Online Access: |
http://www.mechanism-design.org/arch/v008-1/p_02.pdf
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