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Consistent Conjectures in a Dynamic Model of Non-renewable Resource Management

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  • Nicolas Quérou
  • Mabel Tidball

Abstract

We consider a dynamic model of non-renewable resource extraction under the assumption that players do not know their opponents' utility functions.[...]

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File URL: http://www.lameta.univ-montp1.fr/Documents/DR2009-28.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by LAMETA, Universtiy of Montpellier in its series Working Papers with number 09-28.

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Length: 21 pages
Date of creation: Dec 2009
Date of revision: Dec 2009
Handle: RePEc:lam:wpaper:09-28

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References

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  1. Friedman, James W. & Mezzetti, Claudio, 2002. "Bounded rationality, dynamic oligopoly, and conjectural variations," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 287-306, November.
  2. Fischer, Ronald D. & Mirman, Leonard J., 1996. "The Compleat Fish Wars: Biological and Dynamic Interactions," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 34-42, January.
  3. David Levhari & Leonard J. Mirman, 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 322-334, Spring.
  4. Dutta, Prajit K & Sundaram, Rangarajan K, 1993. "The Tragedy of the Commons?," Economic Theory, Springer, vol. 3(3), pages 413-26, July.
  5. Huw D Dixon & Ernesto Somma, . "The Evolution of Consistent Conjectures," Discussion Papers 01/16, Department of Economics, University of York.
  6. Possajennikov, Alex, 2009. "The evolutionary stability of constant consistent conjectures," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 21-29, October.
  7. Benhabib, Jess & Radner, Roy, 1992. "The Joint Exploitation of a Productive Asset: A Game-Theoretic Approach," Economic Theory, Springer, vol. 2(2), pages 155-90, April.
  8. Wieland Müller & Hans-Theo Normann, 2005. "Conjectural Variations and Evolutionary Stability: A Rationale for Consistency," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 161(3), pages 491-, September.
  9. Lindh, T., 1988. "The Inconsistency Of Consistent Conjectures: Coming Back To Cournot," Papers 1988d, Uppsala - Working Paper Series.
  10. Jean-Marie, Alain & Tidball, Mabel, 2006. "Adapting behaviors through a learning process," Journal of Economic Behavior & Organization, Elsevier, vol. 60(3), pages 399-422, July.
  11. Houba, Harold & Sneek, Koos & Vardy, Felix, 2000. "Can negotiations prevent fish wars?," Journal of Economic Dynamics and Control, Elsevier, vol. 24(8), pages 1265-1280, July.
  12. Fischer, Ronald D. & Mirman, Leonard J., 1992. "Strategic dynamic interaction : Fish wars," Journal of Economic Dynamics and Control, Elsevier, vol. 16(2), pages 267-287, April.
  13. Laitner, John, 1980. ""Rational" Duopoly Equilibria," The Quarterly Journal of Economics, MIT Press, vol. 95(4), pages 641-62, December.
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Cited by:
  1. Paulo Brito & Bipasa Datta & Huw Dixon, 2011. "The evolution of mixed conjectures in the rent-extraction game," Discussion Papers 11/06, Department of Economics, University of York.

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