The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution
AbstractIn recent years there have been numerous international conflicts about fishing rights. These conflicts are wider in scope than those captured by the model presented in this paper. Yet the model sheds lights on the economic implications of these conflicts as well as on the implications of other duopolistic situations in which the decisions of the participants affect the evolution of an underlying population of interest. Our model has two basic features: the underlying population changes as a result of the actions of both participants, and each participant takes account of the other's actions. This strategic aspect is studied, for an example, by using the concept of a Cournot-Nash equilibrium in which each participant's reaction depends on the stock of fish and not on previous behavior. Thus, the model is a discrete-time analog of a differential game. The paper examines the dynamic and steady-state properties of the fish population that results from the participants' interactions.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 11 (1980)
Issue (Month): 1 (Spring)
Contact details of provider:
Web page: http://www.rje.org
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.