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Transboundary Renewable Resource Management: A Dynamic Game with Differing Non-Cooperative Payoffs

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Listed:
  • Ida, Ferrara
  • Paul, Missios

Abstract

Recent conflicts over fish stocks, such as salmon and turbot, have revived public interest in the optimal management of transboundary renewable natural resources. Given that enforcement of binding contracts is often a major obstacle, dynamically consistent or self-enforcing contracting, as proposed by Vislie (1987), must be relied upon. A more general model is developed which recognizes that, in the absence of a cooperative agreement, two countries may enjoy differing economic payoffs. The predictions of the model are consistent with and provide insights into the particulars of the recent disputes.

Suggested Citation

  • Ida, Ferrara & Paul, Missios, 1996. "Transboundary Renewable Resource Management: A Dynamic Game with Differing Non-Cooperative Payoffs," MPRA Paper 70749, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:70749
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    File URL: https://mpra.ub.uni-muenchen.de/70749/1/MPRA_paper_70749.pdf
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    References listed on IDEAS

    as
    1. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    2. Jon Vislie, 1987. "On the Optimal Management of Transboundary Renewable Resources: A Comment," Canadian Journal of Economics, Canadian Economics Association, vol. 20(4), pages 870-875, November.
    3. Gordon R. Munro, 1979. "The Optimal Management of Transboundary Renewable Resources," Canadian Journal of Economics, Canadian Economics Association, vol. 12(3), pages 355-376, August.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ferrara, Ida & Missios, Paul C., 1998. "Non-use values and the management of transboundary renewable resources," Ecological Economics, Elsevier, vol. 25(3), pages 281-289, June.
    2. Costello, Christopher & Polasky, Stephen, 2008. "Optimal harvesting of stochastic spatial resources," Journal of Environmental Economics and Management, Elsevier, vol. 56(1), pages 1-18, July.

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    More about this item

    Keywords

    Conservation; economic theory; natural resource management; game theory; optimal control theory; fisheries management; renewable.;
    All these keywords.

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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