Elephants

52 Pages Posted: 9 Oct 1996 Last revised: 2 Oct 2010

See all articles by Michael Kremer

Michael Kremer

Harvard University - Department of Economics; Brookings Institution; National Bureau of Economic Research (NBER); Center for Global Development; Harvard University - Harvard Kennedy School (HKS)

Charles Morcom

affiliation not provided to SSRN

Date Written: July 1996

Abstract

Existing models of open-access resources are applicable to non-storable resources, such as fish. Many open-access resources, however, are used to produce storable goods. Elephants, rhinos, and tigers are three prominent examples. Anticipated future scarcity of these resources will increase current prices, and current poaching. This implies that, for given initial conditions, there may be rational expectations equilibria leading both to extinction and to survival. Governments may be able to eliminate extinction equilibria by promising to implement tough anti-poaching measures if the population falls below a threshold. Alternatively, they, or private agents, may be able to eliminate extinction equilibria by accumulating a sufficient stockpile of the storable good.

Suggested Citation

Kremer, Michael R. and Morcom, Charles, Elephants (July 1996). NBER Working Paper No. w5674. Available at SSRN: https://ssrn.com/abstract=3389

Michael R. Kremer (Contact Author)

Harvard University - Department of Economics ( email )

Littauer Center
Rm. 207
Cambridge, MA 02138
United States

Brookings Institution

1775 Massachusetts Ave. NW
Washington, DC 20036-2188
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Center for Global Development

2055 L St. NW
5th floor
Washington, DC 20036
United States

Harvard University - Harvard Kennedy School (HKS) ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

Charles Morcom

affiliation not provided to SSRN

Register to save articles to
your library

Register

Paper statistics

Downloads
34
Abstract Views
1,319
PlumX Metrics