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

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Author Info
Luca Grilli ()

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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.

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Paper provided by Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia in its series Quaderni DSEMS with number lg_cart_2004.

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Date of creation: Mar 2004
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Publication status: Published in Proceedings of I International Andean Conference and III Colombian Congress on Operation Research - CCIO 2004 - Cartagena de Indias, Colombia.
Handle: RePEc:ufg:qdsems:lg_cart_2004

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Web page: http://www.dsems.unifg.it
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Related research
Keywords: Feedback Nash Equilibrium; resource extraction; overlapping generations; asynchronous horizon; asymmetric players.;

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Find related papers by 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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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.:
  1. 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. [Downloadable!] (restricted)
  2. Riley, John G., 1980. "The just rate of depletion of a natural resource," Journal of Environmental Economics and Management, Elsevier, vol. 7(4), pages 291-307, December. [Downloadable!] (restricted)
  3. Kaitala, Veijo, 1993. "Equilibria in a stochastic resource management game under imperfect information," European Journal of Operational Research, Elsevier, vol. 71(3), pages 439-453, December. [Downloadable!] (restricted)
  4. Luca Grilli, 2003. "Resource extraction activity: an intergenerational approach," Quaderni DSEMS 01-2003, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia. [Downloadable!]
  5. Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215, December.
  6. Burton Peter S., 1993. "Intertemporal Preferences and Intergenerational Equity Considerations in Optimal Resource Harvesting," Journal of Environmental Economics and Management, Elsevier, vol. 24(2), pages 119-132, March. [Downloadable!] (restricted)
  7. Plourde, Charles & Yeung, David, 1989. "Harvesting of a Transboundary Replenishable Fish Stock: A Noncooperative Game Solution," Marine Resource Economics, Marine Resources Foundation, vol. 6(1). [Downloadable!]
  8. Carrera, Carmen & Moran, Manuel, 1995. "General dynamics in overlapping generations models," Journal of Economic Dynamics and Control, Elsevier, vol. 19(4), pages 813-830, May. [Downloadable!] (restricted)
  9. Solow, Robert M, 1986. " On the Intergenerational Allocation of Natural Resources," Scandinavian Journal of Economics, Blackwell Publishing, vol. 88(1), pages 141-49.
  10. Mourmouras, Alex, 1993. "Conservationist government policies and intergenerational equity in an overlapping generations model with renewable resources," Journal of Public Economics, Elsevier, vol. 51(2), pages 249-268, June. [Downloadable!] (restricted)
  11. 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. [Downloadable!] (restricted)
  12. Luca Grilli, 2003. "Giochi Differenziali con Orizzonti Asincroni e Applicazioni alla Gestione delle Risorse Rinnovabili," Quaderni DSEMS lg_phd_2003, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
  13. R. M. Solow, 1973. "Intergenerational Equity and Exhaustable Resources," Working papers 103, Massachusetts Institute of Technology (MIT), Department of Economics.
  14. John, A & Pecchenino, R, 1994. "An Overlapping Generations Model of Growth and the Environment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1393-1410, November. [Downloadable!] (restricted)
  15. 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. [Downloadable!] (restricted)
  16. Masatoshi Yoshida, 1998. "Nash Equilibrium Dynamics of Environmental and Human Capital," International Tax and Public Finance, Springer, vol. 5(3), pages 357-377, July. [Downloadable!] (restricted)
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(explanations, 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.)

  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. [Downloadable!]
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