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Strategic exploitation of a common-property resource under uncertainty

Date

Authors

Antoniadou, Elena

Koulovatianos, Christos

Mirman, Leonard

Publisher

Academic Press

Abstract

We construct a game of noncooperative common-resource exploitation which delivers analytical solutions for its symmetric Markov-perfect Nash equilibrium. We examine how introducing uncertainty to the natural law of resource reproduction affects strategic

Keywords

Keywords: Dynamic game; Nash equilibria; Renewable resource; Technical difficulties; The commons; Economics; Management; common property resource; economic theory; exploitation; game theory; Markov chain; renewable resource; stochasticity; strategic approach; uncer Renewable resource exploitation; Stochastic non-cooperative dynamic games; The commons

URI

http://hdl.handle.net/1885/74233

Collections

ANU Research Publications

Source

Journal of Environmental Economics and Management

Type

Journal article

DOI

10.1016/j.jeem.2012.05.005

Restricted until

2037-12-31

Downloads

File

Description

01_Antoniadou_Strategic_exploitation_of_a_2013.pdf (291.07 KB)