University of Minnesota-Duluth
Financial Incentives of Open Access Resource Overuse part of Integrate:Workshops:Systems, Society, Sustainability and the Geosciences:Activities
This activity helps students understand incentives that create overuse of resources such as when property rights are not well established or enforced. Students are paid to participate in two case experiments. There are two periods for each case. They are explicitly told that the resources are worth twice as much in the second period of each case. In the first case, property rights are non existent and cooperation in the first period tends to break down such that a mad scramble to get a hold of (harvest) and sell the valuable resource ensues. In the second case, property rights are established and enforced such that participants are wiling to undergo a short delay (couple minutes) to earn twice as much per resource unit.
Market Based Economies and Sustainability part of Integrate:Workshops:Systems, Society, Sustainability and the Geosciences:Essays
Chris McIntosh, Economics, University of Minnesota-Duluth Sustainability must be taught in an interdisciplinary context due to the three major perspectives it encompasses: environmental, financial, and social. I ...