IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Comparative statics for a three player differential game in resource economics - the case of exhaustible resources and varying allocations of initial stocks

  • Petra Huck

    ()

    (Environmental Economics and Agricultural Policy Group, Technical University of Munich)

Registered author(s):

    Differential games combine strategic interactions between agents and optimization concerning time. Decisions made in the past determine the present and even the future .in pay off as well as in the opportunities available . for oneself and for the rival players, eventually too. Unfortunately, due to high complexity it is hard to find a Nash-equilibrium within a differential game and it is even harder to get some results in comparative statics. It is the purpose of the paper at hand to present findings concerning comparative statics in a differential game discussed by Wacker and Blank (1999). Comparative statics become available due to a routine solving for the open-loop Nash equilibrium for each parameter combination under consideration. A description of the routine . a 4 step simulation run which approximates the equilibrium numerically . was presented in an earlier Working Paper. In the earlier Paper Excel was applied as it is a wild spread tool. Here again Excel, its Solver and Macros constitute the main instruments; they are used to get repeated simulation runs for varying parameter constellations. The findings presented here concern varying allocations in initial stocks. Generalization to comparative statics in further parameters is in progress.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.ap.wzw.tum.de/fileadmin/pdfs/Discussion_paper_05_2005.pdf
    Download Restriction: no

    Paper provided by Technische Universität München, Environmental Economics and Agricultural Policy Group in its series Discussion Papers with number 052005.

    as
    in new window

    Length: 23 pages
    Date of creation: May 2005
    Date of revision:
    Handle: RePEc:tuu:papers:052005
    Contact details of provider: Postal: Alte Akademie 14, D-85350 München
    Phone: +49(0)8161 71-3406
    Fax: +49(0)8161 71-3408
    Web page: http://www.wzw.tum.de/ap/
    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:tuu:papers:052005. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roswitha Weinbrunn)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.