Continuous versus Discrete Time in Dynamic Common Pool Resource Game Experiments

Anmina Murielle Djiguemde, Dimitri Dubois (), Alexandre Sauquet and Mabel Tidball ()
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Anmina Murielle Djiguemde: CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier
Dimitri Dubois: CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier
Mabel Tidball: CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier

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Abstract: We study the impact of discrete versus continuous time on the behavior of agents in the context of a dynamic common pool resource game. To this purpose, we consider a linear quadratic model and conduct a lab experiment in which agents exploit a renewable resource with an infinite horizon. We use a differential game for continuous time and derive its discrete time approximation. In the single agent setting, we fail to detect, on a battery of indicators, any difference between agents' behavior in discrete and continuous time. Conversely, in the two-player setting, significantly more agents can be classified as myopic and end up with a low resource level in discrete time. Continuous time seems to allow for better cooperation and thus greater sustainability of the resource than does discrete time.

Keywords: Common Pool Resource; Differential Games; Experimental Economics; Continuous Time; Discrete Time (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-dem, nep-env, nep-exp and nep-gth
Note: View the original document on HAL open archive server: https://hal.inrae.fr/hal-03664156v1
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Citations: View citations in EconPapers (1)

Published in Environmental and Resource Economics, inPress, 38 p

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Related works:
Journal Article: Continuous Versus Discrete Time in Dynamic Common Pool Resource Game Experiments (2022)
Working Paper: Continuous versus Discrete Time in Dynamic Common Pool Resource Game Experiments (2022)
Working Paper: Continuous versus Discrete Time in Dynamic Common Pool Resource Game Experiments (2021)
Working Paper: Continuous versus Discrete Time in Dynamic Common Pool Resource Game Experiments (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03664156

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