Nonrenewable resources, strategic behavior and the hotelling rule: an experiment

Veldhuizen, Roel van; Sonnemans, Joep

[working paper]

dc.contributor.author	Veldhuizen, Roel van	de
dc.contributor.author	Sonnemans, Joep	de
dc.date.accessioned	2016-02-15T16:32:30Z
dc.date.available	2016-02-15T16:32:30Z
dc.date.issued	2014	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/46124
dc.description.abstract	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. (author's abstract)	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Economics	en
dc.subject.ddc	Ökologie	de
dc.subject.ddc	Psychology	en
dc.subject.ddc	Ecology	en
dc.subject.ddc	Psychologie	de
dc.subject.other	Hotelling-Regel	de
dc.title	Nonrenewable resources, strategic behavior and the hotelling rule: an experiment	de
dc.description.review	begutachtet	de
dc.description.review	reviewed	en
dc.source.volume	SP II 2014-203	de
dc.publisher.country	DEU
dc.publisher.city	Berlin	de
dc.source.series	Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, Abteilung Verhalten auf Märkten
dc.subject.classoz	Social Psychology	en
dc.subject.classoz	Ökologie und Umwelt	de
dc.subject.classoz	Ecology, Environment	en
dc.subject.classoz	Economic Policy	en
dc.subject.classoz	Sozialpsychologie	de
dc.subject.classoz	Wirtschaftspolitik	de
dc.subject.thesoz	behavior	en
dc.subject.thesoz	Laborexperiment	de
dc.subject.thesoz	resources	en
dc.subject.thesoz	Produzent	de
dc.subject.thesoz	producer	en
dc.subject.thesoz	laboratory experiment	en
dc.subject.thesoz	Ressourcen	de
dc.subject.thesoz	Verhalten	de
dc.rights.licence	Deposit Licence - Keine Weiterverbreitung, keine Bearbeitung	de
dc.rights.licence	Deposit Licence - No Redistribution, No Modifications	en
ssoar.contributor.institution	WZB	de
internal.status	formal und inhaltlich fertig erschlossen	de
internal.identifier.thesoz	10034530
internal.identifier.thesoz	10043016
internal.identifier.thesoz	10039665
internal.identifier.thesoz	10055384
dc.type.stock	monograph	de
dc.type.document	Arbeitspapier	de
dc.type.document	working paper	en
dc.source.pageinfo	34	de
internal.identifier.classoz	10706
internal.identifier.classoz	20900
internal.identifier.classoz	1090302
internal.identifier.document	3
dc.contributor.corporateeditor	Wissenschaftszentrum Berlin für Sozialforschung gGmbH
internal.identifier.corporateeditor	381
internal.identifier.ddc	150
internal.identifier.ddc	577
internal.identifier.ddc	330
dc.description.pubstatus	Published Version	en
dc.description.pubstatus	Veröffentlichungsversion	de
internal.identifier.licence	3
internal.identifier.pubstatus	1
internal.identifier.review	2
internal.identifier.series	961
dc.subject.classhort	20900	de
dc.subject.classhort	10700	de
dc.subject.classhort	10900	de
dc.identifier.handle	https://hdl.handle.net/10419/96220
internal.check.abstractlanguageharmonizer	CERTAIN

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Sozialpsychologie
Social Psychology
Ökologie und Umwelt
Ecology, Environment
Wirtschaftspolitik
Economic Policy

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