Van, Carlos, and Felix are trappers who live next to a recreational hunting area that is open to trapping; in other words, anyone is free to use the recreational hunting area for trapping. Assume that these men are the only three trappers who trap in this recreational hunting area and that the recreational hunting area is large enough for all three trappers to trap intensively at the same time. Each year, the trappers choose independently how often to trap; specifically, they choose whether to trap intensively (that is, to set several traps and hunt long hours, which hurts the sustainability of the recreational hunting area if enough people do it) or to trap nonintensively (which does not hurt the sustainability of the recreational hunting area). None of them has the ability to control how much the others trap, and each trapper cares only about his own profitability and not about the state of the recreational hunting area. Assume that as long as no more than one trapper traps intensively, there are enough animals to restock the recreational hunting area. However, if two or more trap intensively, the recreational hunting area will become useless in the future. Of course, trapping intensively earns a trapper more money
Van, Carlos, and Felix are trappers who live next to a recreational hunting area that is open to trapping; in other words, anyone is free to use the recreational hunting area for trapping. Assume that these men are the only three trappers who trap in this recreational hunting area and that the recreational hunting area is large enough for all three trappers to trap intensively at the same time. Each year, the trappers choose independently how often to trap; specifically, they choose whether to trap intensively (that is, to set several traps and hunt long hours, which hurts the sustainability of the recreational hunting area if enough people do it) or to trap nonintensively (which does not hurt the sustainability of the recreational hunting area). None of them has the ability to control how much the others trap, and each trapper cares only about his own profitability and not about the state of the recreational hunting area. Assume that as long as no more than one trapper traps intensively, there are enough animals to restock the recreational hunting area. However, if two or more trap intensively, the recreational hunting area will become useless in the future. Of course, trapping intensively earns a trapper more money
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 31CTQ: Consider two ways of protecting elephants from poachers in African countries. In one approach, the...
Related questions
Question
Solve all parts as they are subparts.
Hand written solutions are strictly prohibited.
![6. Common resources and the tragedy of the commons
Van, Carlos, and Felix are trappers who live next to a recreational hunting area that is open to trapping; in other words, anyone is free to use the
recreational hunting area for trapping. Assume that these men are the only three trappers who trap in this recreational hunting area and that the
recreational hunting area is large enough for all three trappers to trap intensively at the same time.
Each year, the trappers choose independently how often to trap; specifically, they choose whether to trap intensively (that is, to set several traps and
hunt long hours, which hurts the sustainability of the recreational hunting area if enough people do it) or to trap nonintensively (which does not hurt
the sustainability of the recreational hunting area). None of them has the ability to control how much the others trap, and each trapper cares only
about his own profitability and not about the state of the recreational hunting area.
Assume that as long as no more than one trapper traps intensively, there are enough animals to restock the recreational hunting area. However, if two
or more trap intensively, the recreational hunting area will become useless in the future. Of course, trapping intensively earns a trapper more money
and greater profit because he can sell more animals.
The recreational hunting area is an example of
▼ and
Depending on whether Carlos and Felix both choose to trap either nonintensively or intensively, fill in Van's profit-maximizing response in the following
table, given Carlos and Felix's actions.
Van's Profit-Maximizing Response
because the animals in the recreational hunting area are
Carlos and Felix's Actions
Trap Nonintensively
Trap Intensively](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35862325-ca63-40be-a5be-4ed6b9a19979%2Fc4cc44d2-d882-4819-aa67-837e9aef59c5%2F6z36fed_processed.jpeg&w=3840&q=75)
Transcribed Image Text:6. Common resources and the tragedy of the commons
Van, Carlos, and Felix are trappers who live next to a recreational hunting area that is open to trapping; in other words, anyone is free to use the
recreational hunting area for trapping. Assume that these men are the only three trappers who trap in this recreational hunting area and that the
recreational hunting area is large enough for all three trappers to trap intensively at the same time.
Each year, the trappers choose independently how often to trap; specifically, they choose whether to trap intensively (that is, to set several traps and
hunt long hours, which hurts the sustainability of the recreational hunting area if enough people do it) or to trap nonintensively (which does not hurt
the sustainability of the recreational hunting area). None of them has the ability to control how much the others trap, and each trapper cares only
about his own profitability and not about the state of the recreational hunting area.
Assume that as long as no more than one trapper traps intensively, there are enough animals to restock the recreational hunting area. However, if two
or more trap intensively, the recreational hunting area will become useless in the future. Of course, trapping intensively earns a trapper more money
and greater profit because he can sell more animals.
The recreational hunting area is an example of
▼ and
Depending on whether Carlos and Felix both choose to trap either nonintensively or intensively, fill in Van's profit-maximizing response in the following
table, given Carlos and Felix's actions.
Van's Profit-Maximizing Response
because the animals in the recreational hunting area are
Carlos and Felix's Actions
Trap Nonintensively
Trap Intensively
![Depending on whether Carlos and Felix both choose to trap either nonintensively or intensively, fill in Van's profit-maximizing response in the following
table, given Carlos and Felix's actions.
Van's Profit-Maximizing Response
Carlos and Felix's Actions
Trap Nonintensively
Trap Intensively
Which of the following solutions could ensure that the recreational hunting area is sustainable in the long run, assuming that the regulation is
enforceable? Check all that apply.
Develop a program that entices more trappers to move to the area.
Convert the recreational hunting area to private property, and allow the owner to sell trapping rights.
O Outlaw intensive trapping.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35862325-ca63-40be-a5be-4ed6b9a19979%2Fc4cc44d2-d882-4819-aa67-837e9aef59c5%2Fwqowbg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Depending on whether Carlos and Felix both choose to trap either nonintensively or intensively, fill in Van's profit-maximizing response in the following
table, given Carlos and Felix's actions.
Van's Profit-Maximizing Response
Carlos and Felix's Actions
Trap Nonintensively
Trap Intensively
Which of the following solutions could ensure that the recreational hunting area is sustainable in the long run, assuming that the regulation is
enforceable? Check all that apply.
Develop a program that entices more trappers to move to the area.
Convert the recreational hunting area to private property, and allow the owner to sell trapping rights.
O Outlaw intensive trapping.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![ECON MACRO](https://www.bartleby.com/isbn_cover_images/9781337000529/9781337000529_smallCoverImage.gif)
![ECON MICRO](https://www.bartleby.com/isbn_cover_images/9781337000536/9781337000536_smallCoverImage.gif)
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![ECON MACRO](https://www.bartleby.com/isbn_cover_images/9781337000529/9781337000529_smallCoverImage.gif)
![ECON MICRO](https://www.bartleby.com/isbn_cover_images/9781337000536/9781337000536_smallCoverImage.gif)
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning