Integration of Path-Dependency in a Simple Learning Model: The Case of Marine Resources

Nariné Udumyan (), Juliette Rouchier () and Dominique Ami ()
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Nariné Udumyan: GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique
Juliette Rouchier: GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique
Dominique Ami: GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique

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Abstract: Overexploitation of renewable resources, and more particularly fisheries, is often driven by the lack of information about the state and dynamics of the resource. A solution to this problem stemming from the resource users is proposed in this paper. We use an agent-based model composed of a bio-economic model of Gordon-Schaefer where agents make choices following a very simple learning model. We modify the Roth-Erev learning model so that agents explain their profit not only by current action but also by past action. This modification radically changes the dynamics of the resource use, which turns out to be sustainable. Copyright Springer Science+Business Media New York 2014

Keywords: Agent-based simulation; Bioeconomic mode; Bioeconomic model of fishery; Incomplete information; Natural resources; Roth–Erev model (search for similar items in EconPapers)
Date: 2014
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Published in Computational Economics, 2014, 43 (2), pp.199--231. ⟨10.1007/s10614-013-9375-x⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01463951

DOI: 10.1007/s10614-013-9375-x

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