On the Optimal Taxation of Common-Pool Resources
Recent research developments in common-pool resource models emphasize the importance of links with ecological systems and the presence of non-linearities, thresholds and multiple steady states. In a recent paper Kossioris et al. (2008) develop a methodology for deriving feedback Nash equilibria for non-linear diÃƒï¿½Ã‚Â¤erential games and apply this methodology to a common-pool resource model of a lake where pollution corresponds to beneÃƒï¿½Ã¯Â¿Â½ts and at the same time aÃƒï¿½Ã‚Â¤ects the ecosystem services. This paper studies the structure of optimal state- dependent taxes that steer the combined economic-ecological system towards the trajectory of optimal management, and provides an algo- rithm for calculating such taxes.
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"Feedback Nash equilibria for non-linear differential games in pollution control,"
Other publications TiSEM
40605796-65cd-476f-8e92-7, Tilburg University, School of Economics and Management.
- Kossioris, G. & Plexousakis, M. & Xepapadeas, A. & de Zeeuw, A. & Mäler, K.-G., 2008. "Feedback Nash equilibria for non-linear differential games in pollution control," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1312-1331, April.
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