Renewable resource dynamics: A Web-based classroom experiment

Abstract

The authors adapted a lab-in-the-field experiment emulating the dynamic extraction of a fishery to create a Web-based classroom experiment. The game includes a multi-player version analogous to an open-access problem and a single-player version analogous to the social planner problem. This game is helpful in introductory microeconomics courses to teach about dominant strategies and the consequences of resource rivalry. In elective courses, the game helps teach bio-economics concepts, including logistic growth functions and optimal extraction paths. Instructions for game deployment and creating the sessions are provided. Conducting the game takes about 20 minutes, and because the game is Web-based, students can access it from their laptops, tablets, or smartphones.

Keywords:

• Bio-economics
• fishery
• logistic growth
• teaching economics

JEL CODES:

• A20
• C90
• Q20

Acknowledgments

The authors gratefully acknowledge the research assistance provided by Alfredo Orozco and the feedback provided by Sarah Jacobson. This project was funded by a grant from the Fondo de Innovación Pedagógica at Universidad del Rosario. Financial support from the programme Inclusión productiva y social: programas y políticas para la promoción de una economía formal, código 60185, que conforma la Alianza EFI, bajo el Contrato de Recuperación Contingente No. FP44842-220-2018 is gratefully acknowledged.

Notes

1 Given the repeated nature of the game, other equilibria may emerge if players are sufficiently patient.

2 https://otree.readthedocs.io/en/self/server/heroku.html

3 Enter https://renewable-resource-sd.herokuapp.com/demo/ for the social dilemma version, and https://renewable-resource-sp.herokuapp.com/demo/ for the social planner version.

4 The key corresponds to the “XXXXXXXX” in https://renewable-resource-sd.herokuapp.com/p/XXXXXXXX/renewable-resource-sd/