On Limits to the Use of Linear Markov Strategies in Common Property Natural Resource Games

We derive conditions that must be satisfied by the primitives of the problem in order for an equilibrium in linear Markov strategies to exist in some common property natural resource differential games. These conditions impose restrictions on the admissible form of the natural growth function, given a benefit function, or on the admissible form of the benefit function, given a natural growth function.

MoreLess

Year of publication:	2005
Authors:	GAUDET, Gérard ; LOHOUES, Hervé
Institutions:	Département de Sciences Économiques, Université de Montréal
Subject:	common orty \| natural resources \| differential games \| linear Markov strategies

More details

Extent:	application/pdf
Series:	Cahiers de recherche.
Type of publication:	Book / Working Paper
Notes:	14 pages
Classification:	C73 - Stochastic and Dynamic Games ; D90 - Intertemporal Choice and Growth. General ; Q20 - Renewable Resources and Conservation; Environmental Management. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005133198