A dynamic multicriteria game of renewable resource extraction with environmentally concerned players

Denis Kuzyutin and Nadezhda Smirnova

Economics Letters, 2023, vol. 226, issue C

Abstract: We introduce a multi-objective discrete-time competitive model of renewable resource extraction in which the standard economic objective is supplemented with an environmental one. Non-cooperative and cooperative solutions in feedback strategies are derived and compared with the solutions established for a standard single-criterion dynamic game.

Keywords: Renewable resource extraction; Multi-objective game; Pareto equilibria; Subgame-perfect equilibrium; Cooperative solution (search for similar items in EconPapers)
JEL-codes: C73 Q20 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:226:y:2023:i:c:s0165176523001039

DOI: 10.1016/j.econlet.2023.111078

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