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• W3095560426 abstract "We investigate renewable resource use when the harvesting agents face self-control problems. Individuals are conceptualized as dual selves. The rational long-run self plans for the infinite future while the affective short-run self desires to maximize instantaneous profits or utility. Depending on the degree of self-control, actual behavior is partly driven by short-run desires. In a model of a single harvesting agent (e.g. a fishery), we discuss how self-control problems affect harvesting behavior, resource conservation, and sustainability and discuss policies to curb overuse and potential collapse of the resource due to limited self-control. We then extend the model to several harvesting agents and show how limited self-control exacerbates the common pool problem. Finally, we investigate heterogenous agents and show that there are spillover effects of limited self-control in the sense that perfectly rational agents also behave less conservatively when they interact with agents with imperfect self-control." @default.
• W3095560426 created "2020-11-09" @default.
• W3095560426 creator A5025043392 @default.
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• W3095560426 date "2023-08-01" @default.
• W3095560426 modified "2023-09-23" @default.
• W3095560426 title "Renewable resource use with imperfect self-control" @default.
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• W3095560426 doi "https://doi.org/10.1016/j.jebo.2023.06.020" @default.
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