Resource extraction activity: an intergenerational approach
The problem of resource extraction (both renewable and nonrenewable) can be studied by considering two important aspects: competition among extractors and intergenerational equity. In resource extraction activity actions of present generations influence the choices of future generation in an obvious way. In order to capture these features we consider a differential game in which players are overlapping generations of extractors, in this way both competition and intergenerational equity are included in the model. An important feature of this model is that, since we consider overlapping generations, players have asynchronous horizons, in contrast with a number of studies in intertemporal exploitation of resources in which players have identical time horizons. The framework of overlapping generation allows us to consider intragenerational (players in the same generation) and intergenerational (players in different generations) game equilibrium in the contest of differential games with asynchronous horizons.
|Date of creation:||Oct 2003|
|Date of revision:|
|Publication status:||Published in Game Theory and Applications, vol.13, 2008.|
|Contact details of provider:|| Postal: Largo Papa Giovanni Paolo II, 1 -71100- Foggia (I)|
Web page: http://www.dsems.unifg.it
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dockner, Engelbert & Feichtinger, Gustav & Mehlmann, Alexander, 1989. "Noncooperative solutions for a differential game model of fishery," Journal of Economic Dynamics and Control, Elsevier, vol. 13(1), pages 1-20, January.
- Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, November.
- Masatoshi Yoshida, 1998. "Nash Equilibrium Dynamics of Environmental and Human Capital," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 5(3), pages 357-377, July.
- Kemp, Murray C & Long, Ngo Van, 1983. "On the Economics of Forests," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(1), pages 113-31, February.
- Burton Peter S., 1993.
"Intertemporal Preferences and Intergenerational Equity Considerations in Optimal Resource Harvesting,"
Journal of Environmental Economics and Management,
Elsevier, vol. 24(2), pages 119-132, March.
- Burton, P.S., 1991. "Intertemporal Preferences and Intergenerational Equity Considerations in Optimal Resource Harvesting," Department of Economics at Dalhousie University working papers archive 91-06, Dalhousie, Department of Economics.
- Kaitala, Veijo, 1993. "Equilibria in a stochastic resource management game under imperfect information," European Journal of Operational Research, Elsevier, vol. 71(3), pages 439-453, December.
- 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.
- Mourmouras, Alex, 1993. "Conservationist government policies and intergenerational equity in an overlapping generations model with renewable resources," Journal of Public Economics, Elsevier, vol. 51(2), pages 249-268, June.
- Carrera, Carmen & Moran, Manuel, 1995. "General dynamics in overlapping generations models," Journal of Economic Dynamics and Control, Elsevier, vol. 19(4), pages 813-830, May.
- 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.
When requesting a correction, please mention this item's handle: RePEc:ufg:qdsems:01-2003. 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: (Luca Grilli)
If references are entirely missing, you can add them using this form.