This paper presents a simple Ramsey-type model example where two infinitely-living agents have same utility function except for time preference, and shows that equilibrium is indeterminate that is to be interpreted as being non-existent. The issues regarding New Keynesian transversality...

Exploitation of non–renewable resources is an intensively studied field of environmental economics in the last century. Since the influential Hotelling’s paper a huge progress is made in the depletable resources literature. Although a variety of methodologies is used in that problem’s...

We study the effect of heterogeneous growth in demand on resource extraction. Using the Great Fish War framework of Levhari and Mirman (1980), we show that heterogeneity in demand growth has a profound effect on both cooperative and non-cooperative solutions.

We survey some recent research results in the field of dynamic cooperative differential games with non-transferable utilities. Problems which fit into this framework occur for instance if a person has more than one objective he likes to optimize or if several persons decide to combine efforts in...

We numerically solve the classical "Game of Pure Strategy" using linear programming. We notice an intricate even-odd behaviour in the results of our computations that seems to encourage odd or maximal bids.

We propose a meta-heuristic approach for solving nonlinear dynamic tracking games. In contrast to more "traditional" methods based on linear-quadratic (LQ) techniques, this derivative-free method is very flexible (e.g. to introduce inequality constraints). The meta-heuristic is applied to a...

We propose a meta-heuristic approach for solving nonlinear dynamic tracking games. In contrast to more "traditional" methods based on linear-quadratic (LQ) techniques, this derivative-free method is very flexible (e.g. to introduce inequality constraints). The meta-heuristic is applied to a...

This research states the stylised n (more than two) players’ splitting problem as a mathematical programme, relying on definitions of the values of the game and problem stationarity to generate tractable reduced forms, and derives the known solutions according to the properties of pertaining...

In this paper an algorithm is proposed to find an integral solution of (nonlinear) complementarity problems. The algorithm starts with a nonnegative integral point and generates a unique sequence of adjacent integral simplices of varying dimension. Conditions are stated under which the algorithm...

This research states the stylised n (more than two) players' splitting problem as a mathematical programme, relying on definitions of the values of the game and problem stationarity to generate tractable reduced forms, and derives the known solutions according to the properties of pertaining...