IDEAS home Printed from https://ideas.repec.org/a/spr/dyngam/v4y2014i3p363-375.html
   My bibliography  Save this article

Pareto Improvements of Nash Equilibria in Differential Games

Author

Listed:
  • Atle Seierstad

Abstract

Frequently controls forming Nash equilibria in differential games are not Pareto optimal. This paper presents conditions that can be used to show the existence of strict Pareto improvements of Nash equilibria in such games. The conditions are based on standard tools in control theory. Copyright Springer Science+Business Media New York 2014

Suggested Citation

  • Atle Seierstad, 2014. "Pareto Improvements of Nash Equilibria in Differential Games," Dynamic Games and Applications, Springer, vol. 4(3), pages 363-375, September.
    • Handle: RePEc:spr:dyngam:v:4:y:2014:i:3:p:363-375
    DOI: 10.1007/s13235-013-0093-8
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s13235-013-0093-8
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s13235-013-0093-8?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dockner, Engelbert J. & Kaitala, Veijo, 1989. "On efficient equilibrium solutions in dynamic games of resource management," Resources and Energy, Elsevier, vol. 11(1), pages 23-34, March.
    2. Pradeep Dubey, 1986. "Inefficiency of Nash Equilibria," Mathematics of Operations Research, INFORMS, vol. 11(1), pages 1-8, February.
    3. Chiarella, Carl, et al, 1984. "On the Economics of International Fisheries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 85-92, February.
    4. G. Martín-Herrán & G. Zaccour, 2005. "Credibility of Incentive Equilibrium Strategies in Linear-State Differential Games," Journal of Optimization Theory and Applications, Springer, vol. 126(2), pages 367-389, August.
    5. Lancaster, Kelvin, 1973. "The Dynamic Inefficiency of Capitalism," Journal of Political Economy, University of Chicago Press, vol. 81(5), pages 1092-1109, Sept.-Oct.
    6. Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Seierstad, Atle, 2011. "Pareto improvements of Nash equilibria in differential games," Memorandum 19/2011, Oslo University, Department of Economics.
    2. Ngo Long, 2011. "Dynamic Games in the Economics of Natural Resources: A Survey," Dynamic Games and Applications, Springer, vol. 1(1), pages 115-148, March.
    3. Tasneem, Dina & Engle-Warnick, Jim & Benchekroun, Hassan, 2017. "An experimental study of a common property renewable resource game in continuous time," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 91-119.
    4. Javier Frutos & Guiomar Martín-Herrán, 2018. "Selection of a Markov Perfect Nash Equilibrium in a Class of Differential Games," Dynamic Games and Applications, Springer, vol. 8(3), pages 620-636, September.
    5. Julio Huato, 2023. "Inequality and Growth: A Two-Player Dynamic Game with Production and Appropriation," Papers 2304.01855, arXiv.org.
    6. Leong, Chee Kian & Huang, Weihong, 2010. "A stochastic differential game of capitalism," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 552-561, July.
    7. Javier Frutos & Guiomar Martín-Herrán, 2015. "Does Flexibility Facilitate Sustainability of Cooperation Over Time? A Case Study from Environmental Economics," Journal of Optimization Theory and Applications, Springer, vol. 165(2), pages 657-677, May.
    8. Leong, Chee Kian, 2008. "Capitalism and Economic Growth: A Game-Theoretic Perspective," MPRA Paper 10472, University Library of Munich, Germany.
    9. Rabah Amir & Niels Nannerup, 2006. "Information Structure and the Tragedy of the Commons in Resource Extraction," Journal of Bioeconomics, Springer, vol. 8(2), pages 147-165, August.
    10. Luca Grilli, 2003. "Resource extraction activity: an intergenerational approach," Quaderni DSEMS 01-2003, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    11. Cabo, Francisco & Erdlenbruch, Katrin & Tidball, Mabel, 2014. "Dynamic management of water transfer between two interconnected river basins," Resource and Energy Economics, Elsevier, vol. 37(C), pages 17-38.
    12. Tyrone E. Duncan & Hamidou Tembine, 2018. "Linear–Quadratic Mean-Field-Type Games: A Direct Method," Games, MDPI, vol. 9(1), pages 1-18, February.
    13. Hassan Benchekroun & Ngo Van Long, 2001. "Leader and Follower: A Differential Game Model," CIRANO Working Papers 2001s-08, CIRANO.
    14. Josa-Fombellida, Ricardo & Rincón-Zapatero, Juan Pablo, 2019. "Equilibrium strategies in a defined benefit pension plan game," European Journal of Operational Research, Elsevier, vol. 275(1), pages 374-386.
    15. Luca Grilli, 2004. "A Differential Game for Renewable Resource Extraction Asymmetric Players and Asynchronous Horizons," Quaderni DSEMS lg_cart_2004, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    16. Engwerda, Jacob, 2017. "Stabilization of an Uncertain Simple Fishery Management Game," Discussion Paper 2017-031, Tilburg University, Center for Economic Research.
    17. Dockner, Engelbert J. & Nishimura, Kazuo, 2005. "Capital accumulation games with a non-concave production function," Journal of Economic Behavior & Organization, Elsevier, vol. 57(4), pages 408-420, August.
    18. Luca Grilli, 2008. "Resource extraction activity: an intergenerational approach with asymmetric players," Quaderni DSEMS lg_gta_2008, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    19. K. Hori & A. Shibata, 2010. "Dynamic Game Model of Endogenous Growth with Consumption Externalities," Journal of Optimization Theory and Applications, Springer, vol. 145(1), pages 93-107, April.
    20. Luca Grilli, 2004. "A Stackelberg Differential Game with Overlapping Generations," Quaderni DSEMS lg_elx_2004, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:dyngam:v:4:y:2014:i:3:p:363-375. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.