Elephants / Michael Kremer, Charles Morcom.

Format:

Book

Author/Creator:

Kremer, Michael.

Contributor:

National Bureau of Economic Research.

Morcom, Charles.

Series:

Working Paper Series (National Bureau of Economic Research) no. w5674.

NBER working paper series no. w5674

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1996.

Summary:

Existing models of open-access resources are applicable to non-storable resources, such as fish. Many open-access resources, however, are used to produce storable goods. Elephants, rhinos, and tigers are three prominent examples. Anticipated future scarcity of these resources will increase current prices, and current poaching. This implies that, for given initial conditions, there may be rational expectations equilibria leading both to extinction and to survival. Governments may be able to eliminate extinction equilibria by promising to implement tough anti-poaching measures if the population falls below a threshold. Alternatively, they, or private agents, may be able to eliminate extinction equilibria by accumulating a sufficient stockpile of the storable good.

Notes:

Print version record

July 1996.