Dynamic optimization problems cover a great class of problems in theoretical and applied economics and technology. In this account the exploitation of a general renewable capital stock is modeled through an alternative formulation to the classical optimal control approach. We propose a very...

In this paper we propose a model describing the commercial exploitation of a common property renewable resource by a population of agents. Players can cooperate or compete; cooperators maximize the utility of their group while defectors maximize their own profit. The model provides for one...

An indicator must be defined according to at least three points of view. It must be a parameter of a model according to which the objective of the decision can be represented; it must be an argument of a decision function; and it must be estimable through a function of available data. The whole...

In this paper we propose a static model describing the commercial exploitation of a common property renewable resource by a population of agents. Players can cooperate or compete; cooperators maximize the utility of their group while defectors maximize their own profit. Agents aren't assumed to...

We build a workable game of common-property resource extraction under rational Bayesian learning about the renewal prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response functions of others. What we ?find about the role of...