search query: @indexterm Credit / total: 493
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| Author: | Aggarwal, R. M. Narayan, T. A. |
| Title: | Does inequality lead to greater efficiency in the use of local commons? The role of strategic investments in capacity |
| Journal: | Journal of Environmental Economics and Management
2004 : JAN, VOL. 47:1, p. 163-182 |
| Index terms: | capacity credit inequality investment |
| Language: | eng |
| Abstract: | This article investigates how inequality in access to credit affects the strategic behaviour of users of a common resource in their investment and extraction decisions. The results of this study show that agents invest in excess capacity, except when inequality is very high. The relation between inequality and efficiency in resource extraction is found to be non-monotonic, with the steady-state resource stock being closest to the optimal level when either inequality is very high or very low. |
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