Arbeitspapier
Nonrenewable resources, strategic behavior and the hotelling rule: An experiment
This study uses the methods of experimental economics to investigate possible reasons for the lack of empirical support for the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are large enough, producers may choose to (partially) ignore the dynamic component of their production decision, shifting production to the present and focusing more on strategic behavior. We experimentally vary stock size in a nonrenewable resource duopoly setting and find that producers with large stocks indeed pay significantly less attention to variables related to dynamic optimization, and overproduce relative to the Hotelling rule.
- Sprache
-
Englisch
- Erschienen in
-
Series: WZB Discussion Paper ; No. SP II 2014-203
- Klassifikation
-
Wirtschaft
Design of Experiments: General
Nonrenewable Resources and Conservation: General
Oligopoly and Other Imperfect Markets
- Thema
-
laboratory experiment
nonrenewable resources
Hotelling rule
dynamic oligopoly
- Ereignis
-
Geistige Schöpfung
- (wer)
-
van Veldhuizen, Roel
Sonnemans, Joep
- Ereignis
-
Veröffentlichung
- (wer)
-
Wissenschaftszentrum Berlin für Sozialforschung (WZB)
- (wo)
-
Berlin
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- van Veldhuizen, Roel
- Sonnemans, Joep
- Wissenschaftszentrum Berlin für Sozialforschung (WZB)
Entstanden
- 2014
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