Abstract:
In the management of agricultural resources, private initiative is often advocated as the surest path to sustainability due to its reliance on human self-interest and innovative entrepreneurship. Aimed at helping students develop critical thinking skills, we explore the difference between political versus economic independence among farmers. Game theory is applied to farmers’ management strategies and outcomes. Application of the Prisoners’ Dilemma suggests that the motive of self-interest, though powerful, does not necessarily lead to outcomes that promote the long-term common good. The key to wise agricultural management is not independent decision-making, but voluntary and transparent cooperation guided by cultural norms.
Key words:
Oligopolistic game theory, goldfish crackers, Western culture
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