(Real) behavior meets (real) institutions: towards a research agenda on the study of the commons

Juan Camilo Cárdenas
Authors registered in the RePEc Author Service: Juan-Camilo Cardenas

Chapter 13 in A Research Agenda for New Institutional Economics, 2018, pp 119-126 from Edward Elgar Publishing

Abstract: The study of the commons can be enriched by better understanding the interactions between institutions and human behavior. Using experiments, both in the lab and the field, researchers can explore how actual humans respond to incentives, information, and rules when facing social dilemmas. This chapter suggests combining New Institutional Economics (NIE) with experimental tools to more realistically model and empirically test hypothetical solutions to problems of the commons. To improve our understanding of what happens when groups jointly access common resources, experimental research will need to strengthen its scientific replicability, expand the number of experiments exploring the interactions between human behavior and formal and informal institutions, and improve modeling by taking humans’ cognitive biases and limitations into account.

Keywords: Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2018
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