We consider a common-pool renewable resource differential game. We show that within this dynamic oligopolistic framework, free trade may lead to a lower discounted sum of consumer surplus and of social welfare than autarky. Trade restrictions may be supported based on both resource conservation...

In this paper, we analyse a continuous time version of Fish Wars with the infinite time horizon and state dependent constraints on controls. We calculate the social optimum and a Nash equilibrium which always leads to the depletion of the resource even if the social optimum results in the...

This note analyzes in a fishery management problem the effects of relaxing one of the usual assumptions in the literature of dynamic games. Specifically, the assumption that players restrict to strategies that stabilize the system. Previous works in the literature have shown that feedback Nash...

In this paper, intraseasonal fishing is modeled as a differential game between fishermen in a total allowable catch-regulated fishery with and without individual fishing quotas (IFQs). Heterogeneous harvest values are included by incorporating time-specific harvest costs and a stock effect into...

Dams are essential for water storage and hydropower generation, but change river flow patterns and endanger local environments. Dam projects may further exacerbate already existing problems in trans-boundary rivers. We consider three scenarios of institutional factors: (1) each country pursues...

In this paper, we investigate the optimal taxation policy in a differential oligopoly game where the competing firms share the access to a productive renewable resource. We show that, in a linear Feedback Nash Equilibrium of the game, a linear Markov tax, imposed on the output, and specified as...

Agents interacting on a body of water choose between technologiesto catch …sh. One is harmless to the resource, as it allows full recovery;the other yields high immediate catches, but low(er) future catches.Strategic interaction in one ‘objective’resource game may induceseveral ‘subjective’...

We introduce a stochastic game in which transition probabilitiesdepend on the history of the play, i.e., the players’past action choices.To solve this new type of game under the limiting average reward crite-rion, we determine the set of jointly-convergent pure-strategy rewardswhich can be...

The paper sets up a discrete-time, deterministic, coalition game model among the major agents exploiting the cod stock in Baltic Sea. The characteristic func-tion is constructed and the Shapley value and the nucleolus are used as one-point solution concepts. The paper identifies the problem with...

This paper considers the policy outcome of a contest between two opposing in-terest groups: the incumbent fishermen and a group of conservationalists. The objective of the fishermen is to maximize profit, and they are (partly) concerned over future profitability as well, while the...