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A dynamic multicriteria game of renewable resource extraction with environmentally concerned players

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  • Kuzyutin, Denis
  • Smirnova, Nadezhda

Abstract

We introduce a multi-objective discrete-time competitive model of renewable resource extraction in which the standard economic objective is supplemented with an environmental one. Non-cooperative and cooperative solutions in feedback strategies are derived and compared with the solutions established for a standard single-criterion dynamic game.

Suggested Citation

  • Kuzyutin, Denis & Smirnova, Nadezhda, 2023. "A dynamic multicriteria game of renewable resource extraction with environmentally concerned players," Economics Letters, Elsevier, vol. 226(C).
    • Handle: RePEc:eee:ecolet:v:226:y:2023:i:c:s0165176523001039
    DOI: 10.1016/j.econlet.2023.111078
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    References listed on IDEAS

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    More about this item

    Keywords

    Renewable resource extraction; Multi-objective game; Pareto equilibria; Subgame-perfect equilibrium; Cooperative solution;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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