Rubio, Santiago; Casino, Begoña - In: Environmental & Resource Economics 26 (2003) 1, pp. 73-87
Externalities that arise from privateexploitation of groundwater are analyzed by comparing socially optimal and privateextraction. Open-loop Nashequilibrium and stationary Markov feedbackequilibrium in nonlinear strategieshave been computed to characterize privateextraction. The use of thesetwo...