search query: @indexterm NEGOTIATION / total: 621
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| Author: | Bhat, M.G. Huffaker, R.G. |
| Title: | Management of a transboundary wildlife population: a self-enforcing cooperative agreement with renegotiation and variable transfer payments |
| Journal: | Journal of Environmental Economics and Management
2007 : JAN, VOL. 53:1, p. 54-67 |
| Index terms: | CONTRACTS bargaining negotiation transfer payments |
| Language: | eng |
| Abstract: | This article discusses a dynamic contract that allows renegotiation and variable transfer payments (VTP) between owners of two idependently-harvested, ecologically-dependent mammal populations. The decision environment is modeled as a two-person differential game. The authors develop a recursive-efficiency criterion that forms the basis for determining the size of the VTP, which makes the bargaining contract renegotiation-proof and self-enforcing. It is suggested that VTP is just as Pareto-efficient as a lump sump or fixed annual transfer paymenet. |
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