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A Stackelberg Differential Game with Overlapping Generations

  • Luca Grilli

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We study a differential game, for the extraction of a renewable resource, in which players are overlapping generations of extractors. The framework of overlapping generation allows us to consider both intragenerational (players in the same generation) and intergenerational (players in different generations) competition. Since we consider overlapping generations, players have asynchronous horizons. We consider the case in which players, even if identical, face competition in an asymmetric way by mean of two different approaches: different costs and Leader-Follower competition. The leader-follower structure, as a consequence of the overlapping generation framework, is not fixed but depends on the time period in which each player is living in. The behaviour of the players can be of two ways: myopic or not myopic.

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Paper provided by Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia in its series Quaderni DSEMS with number lg_elx_2004.

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Date of creation: Jul 2004
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Publication status: Published in Proceedings of VI Spanish Meeting on Game Theory and Pratice, Elche, July 2004, Spain.
Handle: RePEc:ufg:qdsems:lg_elx_2004
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  1. Luca Grilli, 2003. "Giochi Differenziali con Orizzonti Asincroni e Applicazioni alla Gestione delle Risorse Rinnovabili," Quaderni DSEMS lg_phd_2003, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
  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. 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.
  4. Luca Grilli, 2004. "A Differential Game for Renewable Resource Extraction Asymmetric Players and Asynchronous Horizons," Quaderni DSEMS lg_cart_2004, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
  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. 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.
  7. John, A & Pecchenino, R, 1994. "An Overlapping Generations Model of Growth and the Environment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1393-1410, November.
  8. Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215, August.
  9. repec:cup:cbooks:9780521637329 is not listed on IDEAS
  10. Solow, Robert M, 1986. " On the Intergenerational Allocation of Natural Resources," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(1), pages 141-49.
  11. 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.
  12. 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.
  13. Riley, John G., 1980. "The just rate of depletion of a natural resource," Journal of Environmental Economics and Management, Elsevier, vol. 7(4), pages 291-307, December.
  14. 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.
  15. Luca Grilli, 2003. "Resource extraction activity: an intergenerational approach," Quaderni DSEMS 01-2003, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
  16. 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.
  17. 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.
  18. R. M. Solow, 1973. "Intergenerational Equity and Exhaustable Resources," Working papers 103, Massachusetts Institute of Technology (MIT), Department of Economics.
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