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Experimental mindset for environmental challenges: the puzzling case of public good contributions

Authors :
Leticia Varelas Henderson
Jason F. Shogren
Katherine D. Lee
Jacob P. Hochard
Source :
European Review of Agricultural Economics. 48:785-804
Publication Year :
2021
Publisher :
Oxford University Press (OUP), 2021.

Abstract

The experimental mindset strips down and mimics social constructs in a setting we can use to understand how institutions create or destroy economic value. We explore how to use the mindset to consider climate change mitigation, in which more investment in climate mitigation by the collective, the less costly for each party. Using the lab to capture Conference of the Parties declining-cost environment with a jigsaw puzzle to mimic real-time costs, we find decreasing ‘cost’ of commitment increases contribution but not reaching the public good threshold. Highlighting the economies of scale might be an effective way to elicit greater commitment.

Details

ISSN :
14643618 and 01651587
Volume :
48
Database :
OpenAIRE
Journal :
European Review of Agricultural Economics
Accession number :
edsair.doi...........2247e62f040669a5da84cc3a24bb13ea