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Transboundary Fishery: A Differential Game Model

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  • Benchekroun, Hassan
  • Van Long, Ngo

Abstract

We consider a differential game between two players, where one player has the first-mover advantage. We compare the equilibrium of this model with the one generated by a conventional symmetric model. The existence of a first mover results in more conservationist exploitation in the aggregate. We also consider the implication of departures from the equilibrium. If the leader can commit to decrease its fishing effort over a finite interval of time, then the follower may respond by increasing, or decreasing, its catch rate, depending on the length of the commitment period. Copyright 2002 by The London School of Economics and Political Science

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  • Benchekroun, Hassan & Van Long, Ngo, 2002. "Transboundary Fishery: A Differential Game Model," Economica, London School of Economics and Political Science, vol. 69(274), pages 207-221, May.
  • Handle: RePEc:bla:econom:v:69:y:2002:i:274:p:207-21
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    References listed on IDEAS

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    1. Crabbe, Philippe & Van Long, Ngo, 1993. "Entry deterrence and overexploitation of the fishery," Journal of Economic Dynamics and Control, Elsevier, vol. 17(4), pages 679-704, July.
    2. 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.
    3. 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.
    4. Léonard,Daniel & Long,Ngo van, 1992. "Optimal Control Theory and Static Optimization in Economics," Cambridge Books, Cambridge University Press, number 9780521331586, March.
    5. Kathleen A. Miller, 1996. "Salmon Stock Variability And The Political Economy Of The Pacific Salmon Treaty," Contemporary Economic Policy, Western Economic Association International, vol. 14(3), pages 112-129, July.
    6. Plourde, C G, 1970. "A Simple Model of Replenishable Natural Resource Exploitation," American Economic Review, American Economic Association, vol. 60(3), pages 518-522, June.
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    Citations

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    Cited by:

    1. Lambertini, Luca & Mantovani, Andrea, 2014. "Feedback equilibria in a dynamic renewable resource oligopoly: Pre-emption, voracity and exhaustion," Journal of Economic Dynamics and Control, Elsevier, vol. 47(C), pages 115-122.
    2. Colombo, Luca & Labrecciosa, Paola, 2013. "On the convergence to the Cournot equilibrium in a productive asset oligopoly," Journal of Mathematical Economics, Elsevier, vol. 49(6), pages 441-445.
    3. Hassan Benchekroun & Ngo Van Long, 2006. "The Curse Of Windfall Gains In A Non Renewable Resource Oligopoly ," Australian Economic Papers, Wiley Blackwell, vol. 45(2), pages 99-105, June.
    4. Fujiwara, Kenji, 2008. "Duopoly can be more anti-competitive than monopoly," Economics Letters, Elsevier, vol. 101(3), pages 217-219, December.
    5. Xie Jia, 2006. "Resources as an Input of Production in a Two-Sector Economy," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 6(1), pages 1-33, April.
    6. Halkos, George, 2010. "Dynamic optimization in natural resources management," MPRA Paper 24744, University Library of Munich, Germany.
    7. Halkos, George & Papageorgiou, George, 2012. "Simple taxation schemes on non–renewable resources extraction," MPRA Paper 40945, University Library of Munich, Germany.
    8. Fujiwara, Kenji, 2011. "Losses from competition in a dynamic game model of a renewable resource oligopoly," Resource and Energy Economics, Elsevier, vol. 33(1), pages 1-11, January.
    9. repec:eee:jeborg:v:140:y:2017:i:c:p:91-119 is not listed on IDEAS
    10. repec:spr:decfin:v:40:y:2017:i:1:d:10.1007_s10203-017-0189-5 is not listed on IDEAS
    11. Dalgic, Engin & Long, Ngo Van, 2006. "Corrupt local governments as resource farmers: The helping hand and the grabbing hand," European Journal of Political Economy, Elsevier, vol. 22(1), pages 115-138, March.
    12. Engwerda, Jacob, 2017. "Stabilization of an Uncertain Simple Fishery Management Game," Discussion Paper 2017-031, Tilburg University, Center for Economic Research.
    13. Tasneem, Dina & Engle-Warnick, Jim & Benchekroun, Hassan, 2017. "An experimental study of a common property renewable resource game in continuous time," Journal of Economic Behavior & Organization, Elsevier, pages 91-119.
    14. McGaw, Richard, 2003. "Aboriginal fisheries policy in Atlantic Canada," Marine Policy, Elsevier, vol. 27(5), pages 417-424, September.
    15. Halkos, George, 2010. "Dynamic regulations in non –renewable resources oligopolistic markets," MPRA Paper 24774, University Library of Munich, Germany.
    16. Ngo Long, 2011. "Dynamic Games in the Economics of Natural Resources: A Survey," Dynamic Games and Applications, Springer, vol. 1(1), pages 115-148, March.
    17. George E. HALKOS & George PAPAGEORGIOU, 2010. "Differential Games in Non–Renewable Resources Extraction," Theoretical and Practical Research in Economic Fields, ASERS Publishing, vol. 0(2), pages 232-243, December.
    18. Banerjee, Nandini & Kennedy, P. Lynn, 2006. "Sanitary and Phytosanitary Measures : A Game Theoretic Approach of Comparative Evaluation," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35375, Southern Agricultural Economics Association.
    19. Bernard, A. & Haurie, A. & Vielle, M. & Viguier, L., 2008. "A two-level dynamic game of carbon emission trading between Russia, China, and Annex B countries," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1830-1856, June.

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