Amir, Rabah; Nannerup, Niels - Økonomisk Institut, Københavns Universitet - 2000
This paper considers the well-known Levhari-Mirman model of resource extraction, and investigates the effects of the information structure of the dynamic game - open-loop, Markovian or history-dependent - on the equilibrium consumption path and the overall utility of the agents. The open-loop...