Tipping points and business-as-usual in a global commons

Rodrigo Harrison and Roger Lagunoff

Journal of Economic Behavior & Organization, 2019, vol. 163, issue C, 386-408

Abstract: This paper analyzes a dynamic strategic model of resource extraction from a global commons. Countries derive benefits from both direct extraction and aggregate conservation of an open access resource. Each period, a country’s output depends both on its resource usage and on the global stock of the resource stored within the ecosystem. Leading examples are ocean fisheries, habitat preservation, forestry, and land carbon biomass. The production coefficients on these inputs vary across countries and evolve stochastically over time.

Keywords: Ocean fisheries; Resource extraction; Global carbon commons; Tipping points; Safe operating space for humanity; Business-as-usual equilibrium (search for similar items in EconPapers)
JEL-codes: C73 D82 Q54 Q58 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:163:y:2019:i:c:p:386-408

DOI: 10.1016/j.jebo.2019.05.015

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