feedback Nash equilibrium can be higher than that in an open-loop Nash equilibrium if agents strongly admire the consumption of …

HARA production functions the oil price is initially higher and subsequently lower in the open-loop Nash equilibrium than … in the open-loop Nash equilibrium initially price oil lower than the efficient level, thus resulting in more oil … outcomes. We find that the optimal carbon tax path in the feedback Nash equilibrium is flatter than in the open-loop Nash …