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Resource extraction activity: an intergenerational approach

  • Luca Grilli

    ()

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.

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Paper provided by Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia in its series Quaderni DSEMS with number 01-2003.

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Length: 15 pages
Date of creation: Oct 2003
Date of revision:
Publication status: Published in Game Theory and Applications, vol.13, 2008.
Handle: RePEc:ufg:qdsems:01-2003
Contact details of provider: Postal: Largo Papa Giovanni Paolo II, 1 -71100- Foggia (I)
Phone: +390881753722
Fax: +390881775616
Web page: http://www.dsems.unifg.it

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  1. 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.
  2. Masatoshi Yoshida, 1998. "Nash Equilibrium Dynamics of Environmental and Human Capital," International Tax and Public Finance, Springer, vol. 5(3), pages 357-377, July.
  3. repec:cup:cbooks:9780521637329 is not listed on IDEAS
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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.
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