Standard economic models of groundwater management impose restrictive assumptions regarding perfect transmissivity (i.e., the aquifer behaves as a bathtub), no external effects of groundwater stocks, observability of individual extraction rates, and/or homogenous agents. In this article, we...

This paper addresses the question of what it takes to obtain a well-defined extensive form game. Without relying on simplifying finiteness or discreteness assumptions, we characterize the class of game trees for which all pure strategy combinations induce unique outcomes. The generality of the...

We model countries’ choice of greenhouse gas (GHG) emissions as a dynamic game. Emissions generate immediate benefits to the emitting country but also increase atmospheric GHG concentrations that negatively affect present and future welfare of all countries. Because there are no international...

The paper offers an analysis of the issues related to the election dates synchronisation between two countries. The first purpose of the paper is to analyse the circumstances in which a government of a single country, considered to be a small economy, has incentives, or not, to synchronise the...

We characterise the entire set of symmetric stationary Markov-perfect Nash equilibria (MPE) in a differential game of public good investment, using the canonical problem of climate change as an example. We provide a sufficient and necessary condition for MPE and show how the entire set of MPE is...

In this paper we model the conflict between the group of polluting firms in a country and any social planner in the same country who attempts to control the volume of emissions generated during the production process. Both players of the game have their own control policies, i.e., the rate of...

Pursuit-evasion games are used to define guidance strategies for multi-agent planning problems. Although optimal strategies exist for deterministic scenarios, in the case when information about the opponent players is imperfect, it is important to evaluate the effect of uncertainties on the...

Production emissions in the industrial sector are a major source of environmental pollution. In this paper, we explore how emission considerations are integrated with production decisions. We develop a dynamic model consisting of two firms located in the same industrial park, which satisfies...

This study aims to offer a formal analysis which relates provision of cultural goods to the society's level of cultural capital. Such a level is assumed to already exist in society and is increasable thanks to individual support for the offer of cultural goods. The achievement of the highest...

The paper presents a model of world economy with two countries where one of them dubbed home sells the exhaustible resource to final producers in both countries, which compete at the final goods market. The interaction between final producers is reached via the sticky price mechanics, whereas...