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Presenter Information

Lixing Sun
Hideki Takei

Location

SURC Room 137A

Start Date

15-5-2014

End Date

15-5-2014

Keywords

behavioral economics, resource use, sustainability, ecology, conservation, tragedy of the commons

Abstract

Common-pool resources are often overexploited, leading to a deplorable condition known as the tragedy of the commons. Here, we present a behavioral economic model (Prisoner’s Dilemma) to show how this can happen. Furthermore, we reveal inadequacies in current economic models based on demand and supply, and population biology models based on population replacement rate for sustainable use of biological resources. By combining behavioral economics and population biology, we demonstrate how suboptimal becomes optimal in harvesting renewable resources. This new approach should have a significant policy implication in management, conservation, and sustainable use of biological populations.

Faculty Mentor(s)

Sun, Lixing

Additional Mentoring Department

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May 15th, 1:50 PM May 15th, 2:10 PM

How Sustainable Becomes Unsustainable in Resource Use: Insights from Behavioral Economics

SURC Room 137A

Common-pool resources are often overexploited, leading to a deplorable condition known as the tragedy of the commons. Here, we present a behavioral economic model (Prisoner’s Dilemma) to show how this can happen. Furthermore, we reveal inadequacies in current economic models based on demand and supply, and population biology models based on population replacement rate for sustainable use of biological resources. By combining behavioral economics and population biology, we demonstrate how suboptimal becomes optimal in harvesting renewable resources. This new approach should have a significant policy implication in management, conservation, and sustainable use of biological populations.