Advanced Search
MyIDEAS: Login

Dynamic regulations in non –renewable resources oligopolistic markets

Contents:

Author Info

  • Halkos, George

Abstract

Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless the inputs’ scarcity. In the last few decades has been clear that both the inputs are depletable quantities and a lot of constraints are imposed in their usage in order to ensure economic sustainability. Furthermore, the management of exploitation and use of natural resources (either exhaustible or renewable) has been discussed by analyzing dynamic models applying methods of Optimal Control Theory. This theory provides solutions that are concerned with a single decision maker who can control the model dynamics facing a certain performance index to be optimized. In fact, market structures or exploitation patterns are often oligopolistic, i.e. there are several decision makers whose policies influence each other. So, game theoretical approaches are introduced into the discussion. According to the theory of continuous time models of Optimal Control, the appropriate analogue of differential games is used. Roughly, this is the extension of Optimal Control, when there is exactly one decision maker, to the case of N(N≥ 2) decision makers interacting with each other.

Download Info

If 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.
File URL: http://mpra.ub.uni-muenchen.de/24774/
File Function: original version
Download Restriction: no

Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 24774.

as in new window
Length:
Date of creation: 2010
Date of revision:
Handle: RePEc:pra:mprapa:24774

Contact details of provider:
Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC

Related research

Keywords: Nonrenewable resources; dynamic interaction; economic regulation; differential games;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Batabyal, Amitrajeet A., 1995. "Consistency and Optimality in a Dynamic Game of Pollution Control I: Competition," Working Papers 9529, Utah State University, Department of Economics.
  2. 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.
  3. Puu, Tonu, 1977. "On the profitability of exhausting natural resources," Journal of Environmental Economics and Management, Elsevier, vol. 4(3), pages 185-199, September.
  4. Benchekroun, Hassan, 2003. "Unilateral production restrictions in a dynamic duopoly," Journal of Economic Theory, Elsevier, vol. 111(2), pages 214-239, August.
  5. Dockner, Engelbert J. & Sorger, Gerhard, 1996. "Existence and Properties of Equilibria for a Dynamic Game on Productive Assets," Journal of Economic Theory, Elsevier, vol. 71(1), pages 209-227, October.
  6. Dockner, Engelbert & Feichtinger, Gustav & Mehlmann, Alexander, 1989. "Noncooperative solutions for a differential game model of fishery," Journal of Economic Dynamics and Control, Elsevier, vol. 13(1), pages 1-20, January.
  7. L. Lambertini, 2007. "Oligopoly with Hyperbolic Demand: A Differential Game Approach," Working Papers 598, Dipartimento Scienze Economiche, Universita' di Bologna.
  8. Szidarovszky, Ferenc & Yen, Jerome, 1995. "Dynamic Cournot oligopolies with production adjustment costs," Journal of Mathematical Economics, Elsevier, vol. 24(1), pages 95-101.
  9. 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.
  10. Benchekroun, Hassan & Van Long, Ngo, 2002. "Transboundary Fishery: A Differential Game Model," Economica, London School of Economics and Political Science, vol. 69(274), pages 207-21, May.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:24774

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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