A Common Property Experiment with a Renewable Resource

Denise Hazlett

Economic Inquiry, 1997, vol. 35, issue 4, 858-61

Abstract: This series of three classroom experiments demonstrates the tragedy of the commons and suggests two possible solutions: communication and individual property rights. In the first and second experiments, students jointly own a renewable resource in the form of a plate of M&Ms. Communication is not allowed in the first experiment, whereas in the second experiment students may try to influence each other's desired harvest. The third experiment divides the plate to establish individual property rights. Copyright 1997 by Oxford University Press.

Date: 1997
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