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Feedback Nash equilibria for non-linear differential games in pollution control

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Author Info

  • Kossioris, G.
  • Plexousakis, M.
  • Xepapadeas, A.
  • Zeeuw, A.J. de

    (Tilburg University)

  • Mäler, K-G.

Abstract

Dynamic problems of pollution and resource management with stock externalities often require a differential games framework of analysis. In addition they are represented realistically by non-linear transition equations. However, feedback Nash equilibrium (FBNE) solutions, which are the desired ones in this case, are difficult to obtain in problems with non-linear-quadratic structure. We develop a method to obtain numerically non-linear FBNE for a class of such problems, with a specific example for shallow lake pollution control. We compare FBNE solutions, by considering the entire equilibrium trajectories, with optimal management and open-loop solutions, and we show that the value of the best FBNE is in general worse than the open-loop and optimal management solutions.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-378255.

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Date of creation: 2008
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Publication status: Published in Journal of Economic Dynamics and Control (2008) v.32, p.1312-1331
Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-378255

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Web page: http://www.tilburguniversity.edu/

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References

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  1. Mäler, K-G. & Xepapadeas, A. & Zeeuw, A.J. de, 2003. "The economics of shallow lakes," Open Access publications from Tilburg University urn:nbn:nl:ui:12-123314, Tilburg University.
  2. Tsutsui, Shunichi & Mino, Kazuo, 1990. "Nonlinear strategies in dynamic duopolistic competition with sticky prices," Journal of Economic Theory, Elsevier, vol. 52(1), pages 136-161, October.
  3. Ploeg, F. van der & Zeeuw, A.J. de, 1992. "International aspects of pollution control," Open Access publications from Tilburg University urn:nbn:nl:ui:12-377516, Tilburg University.
  4. Hein, Lars, 2006. "Cost-efficient eutrophication control in a shallow lake ecosystem subject to two steady states," Ecological Economics, Elsevier, vol. 59(4), pages 429-439, October.
  5. Dechert, W.D. & O'Donnell, S.I., 2006. "The stochastic lake game: A numerical solution," Journal of Economic Dynamics and Control, Elsevier, vol. 30(9-10), pages 1569-1587.
  6. Rubio, Santiago J. & Casino, Begona, 2002. "A note on cooperative versus non-cooperative strategies in international pollution control," Resource and Energy Economics, Elsevier, vol. 24(3), pages 251-261, June.
  7. Dockner, E.J. & Wagener, F.O.O., 2006. "Markov-Perfect Nash Equilibria in Models With a Single Capital Stock," CeNDEF Working Papers 06-07, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
  8. W.A. Brock & D. Starrett, 2003. "Managing Systems with Non-convex Positive Feedback," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(4), pages 575-602, December.
  9. Dockner Engelbert J. & Van Long Ngo, 1993. "International Pollution Control: Cooperative versus Noncooperative Strategies," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 13-29, July.
  10. Wagener, F. O. O., 2003. "Skiba points and heteroclinic bifurcations, with applications to the shallow lake system," Journal of Economic Dynamics and Control, Elsevier, vol. 27(9), pages 1533-1561, July.
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Citations

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Cited by:
  1. Florian Wagener, 2013. "Shallow lake economics run deep: nonlinear aspects of an economic-ecological interest conflict," Computational Management Science, Springer, vol. 10(4), pages 423-450, December.
  2. Salerno, Gillian & Beard, Rodney & McDonald, Stuart, 2007. "Rent Seeking Behavior and Optimal Taxation of Pollution in Shallow Lakes," MPRA Paper 11225, University Library of Munich, Germany, revised 22 Oct 2008.
  3. Heijnen, P. & Wagener, F.O.O., 2013. "Avoiding an ecological regime shift is sound economic policy," Journal of Economic Dynamics and Control, Elsevier, vol. 37(7), pages 1322-1341.
  4. XEPAPADEAS, Anastasios, 2009. "Modeling Complex Systems," MPRA Paper 17498, University Library of Munich, Germany.
  5. Athanassoglou, Stergios, 2010. "Dynamic nonpoint-source pollution control policy: Ambient transfers and uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 34(12), pages 2494-2509, December.
  6. Talat S. Genc & Georges Zaccour, 2010. "Investment Dynamics: Good News Principle," Working Papers 1006, University of Guelph, Department of Economics and Finance.
  7. repec:dgr:uvatin:2009033 is not listed on IDEAS
  8. Dockner, E.J. & Wagener, F.O.O., 2006. "Markov-Perfect Nash Equilibria in Models With a Single Capital Stock," CeNDEF Working Papers 06-07, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
  9. Anastasios Xepapadeas, 2011. "The Economics of Non-Point-Source Pollution," Annual Review of Resource Economics, Annual Reviews, vol. 3(1), pages 355-373, October.
  10. Wagener, F.O.O., 2013. "Economics of environmental regime shifts," CeNDEF Working Papers 13-08, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
  11. George Kossioris & Michael Plexousakis & Anastasios Xepapadeas & Aart de Zeeuw, . "On the Optimal Taxation of Common-Pool Resources," DEOS Working Papers 1010, Athens University of Economics and Business.
  12. Anne-Sophie Crépin & Therese Lindahl, 2009. "Grazing Games: Sharing Common Property Resources with Complex Dynamics," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 44(1), pages 29-46, September.
  13. Pedro, de Mendonça, 2009. "Self-Enforcing Climate Change Treaties: A Generalized Differential Game Approach with Applications," MPRA Paper 17889, University Library of Munich, Germany.

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