Game Theory Tells Us How To Efficiently Use Institutions For Governing The Commons
Share This:
                           

About The Author

Xiaojie Chen is a professor at University of Electronic Science and Technology of China School of Mathematical Sciences. His research interests cover Evolutionary game theory; Governance of common goods; Collective decision-making; and Evolutionary robotics. He obtained his Ph.D. degree in dynamics and control of complex systems from Peking University, China, in January 2011.

                       

Game Theory Tells Us How To Efficiently Use Institutions For Governing The Commons

Cooperation is imperative when humans deal with the consequence of collective actions, such as global warming, overfishing, or preserving natural resources. However, the collapse of cooperation happens too often in these situations, which predicts several undesired scenarios. A well-known example is the danger of overfishing. Fishermen are motivated to catch the maximum amount of fish without driving the fish to extinction, which is the worst scenario for everyone, thus ensuring a sufficiently high level of cooperation and maintaining sustainable use...

Read more