In this paper a dierential game model of renewable resource ex- ploitation is considered in which rms compete in exploiting a com- mon resource in a Bertrand price-setting game. The model character- izes a situation in which rms extract a common renewable resource which after harvesting may be...

A two-agent model for the exploitation of the Arcto-Norwegian cod stock is developed to investigate the economic benefits that can be realized from resources , and the effect of exploitation on stock sustainability under cooperation and non-cooperation.

We build a workable game of common-property resource extraction under rational Bayesian learning about the reproduction prospects of a resource. We focus on Markov-perfect strate- gies under truthful revelation of beliefs. For reasonable initial conditions, exogenously shif- ting the prior...

We study the effect of heterogeneous growth in demand on resource extraction. Using the Great Fish War framework of Levhari and Mirman (1980), we show that heterogeneity in demand growth has a profound effect on both cooperative and non-cooperative solutions.

La presente investigación tiene dos objetivos básicos. Primero, se utilizarán elementos de la Teoría de Juegos Evolutivos para evaluar la estabilidad de distintos tipos de preferencias en el contexto de la explotación de un recurso de propiedad común. En particular, analizaremos la...

We study the effect of environmental risk on the extraction of a common resource. Using a dynamic and non-cooperative game in which an environmental event impacts the renewability and the quality of the resource, we show that the anticipation of such an event has an ambiguous effect on...

We study the effect of environmental risk on the extraction of a common resource. Using a dynamic and non-cooperative game in which an environmental event impacts the renewability and the quality of the resource, we show that the anticipation of such an event has an ambiguous effect on...