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Research article2024Peer reviewedOpen access

Present Bias in Renewable Resources Management Reduces Agent's Welfare

Persichina, Marco


This article analyses the effects of myopic and present-biased preferences on the welfare of a naive agent when he/she is engaged in an intertemporal harvesting activity from a stock of renewable resources. The analysis is conducted by also taking into account the nature of present-biased behaviours as phenomena that is derived from a dual system of discounting and of response to short and long-term stimuli.In the task of harvesting from a stock of renewable resources, the present biased preferences of a naive agent create a conflict between the long-run benefit of the agent and the short-run desire.Thus, this article demonstrates and argues that in the decision-making, which involves intertemporal choices in renewable resources management, the prevalence of naive behaviour, strongly influenced by the emotional-affective system, can lead to a reduction in the overall utility enjoyed by the individual due to the present bias.


Present bias; naive agent; intertemporal choice; harvesting; dual system discounting

Published in

Journal of Interdisciplinary Economics
2024, Volume: 36, number: 1, pages: 79-97

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