Welcome to Resource Economics
At the Department of Resource Economics, we tackle complex questions about how to use our environmental, natural and human resources. By researching important societal problems and gathering and analyzing data, we offer policy solutions that move the needle on today’s most pressing issues. Our undergraduate and graduate programs focus on industrial organization, environmental economics, natural resource economics, and consumer and family economics. And our award-winning faculty produces groundbreaking research that impacts how we approach our world.
Julie Caswell Named Distinguished Professor
Dr. Julie A. Caswell has been named Distinguished Professor by the University of Massachusetts Board of Trustees. >>More
Graduate Awards Ceremony
Lawrence De Geest is this year's recipient of the Carolyn Harper Fellowship. Abdul Kidwai and Alyssa Danilow received The Vijay Bhagavan Teaching Assistant of Distinction Award. Madeline Cyr and Irene Mussio received the Department Outstanding Service Award. Congratulations to all and thanks for your many contributions!
(Photo from left: Lawrence De Geest, Abdul Kidwai, Alyssa Danilow, Madeline Cyr and Irene Mussio)
Volunteer for Upcoming Experiments
Register for experiments conducted at Willis Experimental Economics Laboratory. Participants will be compensated, and no prior economics training is necessary.
To register please visit the Experimental Economics Online Recruitment System.
For more information and to access the Willis Lab FAQs, please visit the Experimental Economics Website.
UMass Women into Leadership Accepting Applications for 2018 Fellows
Have you considered a career in public service? Are you interested in learning more about leadership? Do you want to gain hands-on experience, expand your professional network, and jump-start your career? Join UMass Women into Leadership (UWiL)! Applications are accepted until October 15. >>More
Fall 2017 Seminars
For more information contact Christine Crago (ccrago "at" resecon.umass.edu, 545-5738).
On Thin Ice: Risk, Return and Crash
September 15
3:30-5:00 pm • 303 Stockbridge Hall
Dr.Tobias Rötheli, University of Erfurt
Abstract
This paper describes results from a new experiment studying determinants and effects of economic risk-taking. In each session four subjects choose three slots for ice fishing on their portion of a frozen lake. The farther out on the lake the higher are the returns but also the higher is the risk of a crash and a loss. This setup permits us to investigate how transparency and incentive structures – two issues intensively debated in policy circles – affect risk taking and vulnerability to crashes. Our results indicate that increasing transparency of choices raises output and reduces the frequency of crashes whereas introducing a steeper return-risk profile has the opposite effects. Bounded rationality in the sense of naïve risk taking does not explain crashes. Instead, behavioral traits of subjects regarding risky choices and their distribution across subjects help to understand economic performance and frequency of crises. Download paper HERE
License Complementarity and Package Bidding: The U.S. Spectrum Auctions
September 29
3:30-5:00 pm • 303 Stockbridge Hall
Dr. Mo Xiao, University of Arizona
TBD
October 20
3:30-5:00 pm • 303 Stockbridge Hall
Dr. Joe Shapiro, Yale University