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A Differential Game for Renewable Resource Extraction Asymmetric Players and Asynchronous Horizons

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  • Luca Grilli

Abstract

In this paper we study a differential game, for resource extraction of a renewable good, in which players are overlapping generations of extractors. The framework of overlapping generation allows us to consider intragenerational (players in the same generation) and intergenerational (players in different generations) game equilibrium. We consider the case in which players, even if identical, face competition in an asymmetric way. Since we consider overlapping generations, players have asynchronous horizons, in contrast with a number of studies in intertemporal exploitation of resources in which players have identical time horizons.

Suggested Citation

  • 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.
    • Handle: RePEc:ufg:qdsems:lg_cart_2004
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    Cited by:

    1. 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.

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    More about this item

    Keywords

    Feedback Nash Equilibrium; resource extraction; overlapping generations; asynchronous horizon; asymmetric players.;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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