The authors describe a renewable resource allocation game designed to
stimulate students’ interest in and understanding of market failure associated
with open-access types of resource use. They also use the game to discuss the
advantages and disadvantages of various property rights and regulation schemes.
Because this exercise demonstrates the power of unregulated and regulated economic
incentives, many types of students may benefit from this game, including
undergraduates enrolled in the standard introductory and in more advanced
microeconomics classes, as well as courses in environmental economics and natural
resource economics. This game was specifically designed so that noneconomics
majors in natural resource management and environmental courses could
also benefit.
