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This article studies a leader-follower differential game with a finite horizon, where a single buyer reacts to the selling price set by an agency (water supplier). The Open-Loop Stackelberg equilibrium is calculated, assuming that the user demand is fully satisfied (that is, the interior...
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instance, when farmers adopt groundwater extraction technology, they need to learn their private marginal cost and marginal … owners with less experience (owners of new wells) with groundwater technology, extract more water than the experienced owners …. Employing panel data at the district level in a fixed-effects model, we find that groundwater extraction rises as the growth …
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