Ignorant Exploitation of a Common Resource

• The paper considers a common pool resource of uncertain size. Resource users differ with respect to the quality of their information. We show that the ignorant agent can take advantage of her lack of knowledge at the expense of the knowledgeable agent. Knowledge advantage becomes a strategic disadvantage. Moreover, the more agents differ with respect to knowledge, the smaller is the probability of resource collapse and the less likely are coordination problems.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

Publikations- och innehållstyp

ovr (ämneskategori)

vet (ämneskategori)