An experimental analysis of optimal renewable resource managemenet: The fishery

J.D. Hey, T. Neugebauer, A. Sadrieh

Research output: Contribution to journalArticleScientificpeer-review

9 Citations (Scopus)

Abstract

This paper experimentally studies the extraction decisions of a sole owner in a fishery, the population dynamics of which behave according to the standard deterministic logistic growth model. Four treatments were implemented which differed in the level of information supplied to the subjects. Compared to the theoretic benchmark, the data reveal that efficiency losses increase as the information on population dynamics and stock size deteriorates. Three common patterns of behaviour are identified. The distribution of these patterns is significantly affected by the informational setting.
Original languageEnglish
Pages (from-to)263-285
JournalEnvironmental and Resource Economics
Volume44
Issue number2
Publication statusPublished - 2009

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