Open AccessInfluence of human capital on the trial and error learning process in a common pool resource (CPR) game
Author(s) -
Daniel Guerrero,
Joan Rosell,
José Santiago Arroyo
Publication year - 2021
Publication title -
economía agraría y recursos naturales/economía agraria y recursos naturales
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.304
H-Index - 9
eISSN - 2174-7350
pISSN - 1578-0732
DOI - 10.7201/earn.2021.02.03
Subject(s) - dilemma , process (computing) , human capital , resource (disambiguation) , economics , microeconomics , computer science , economic growth , computer network , operating system , philosophy , epistemology
This paper presents a study regarding the behavior of Pacific-Colombian fishers in a Common Pool Resource game. Results show that decision-making depends on human capital accumulation and the learning process. Specifically, through trial and error, those players with more human capital adjust their decisions on the basis of a cooperative-collusive solution by following the feedback of their own most successful strategies in past rounds. Notably, fishers with the higher levels of formal schooling tend to harvest less because they have a better understanding of dilemma-type games and the higher benefits involved when they cooperate.