Payoff Distribution in a Multi-Company Extraction Game with Uncertain Duration

Ekaterina Gromova, Anastasiya Malakhova and Arsen Palestini
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Ekaterina Gromova: Faculty of Applied Mathematics and Control Processes, St. Petersburg State University, St. Petersburg 198504, Russia
Anastasiya Malakhova: Faculty of Applied Mathematics and Control Processes, St. Petersburg State University, St. Petersburg 198504, Russia
Arsen Palestini: MEMOTEF, Sapienza University of Rome, Piazzale Aldo Moro 5, 00185 Rome, Italy

Mathematics, 2018, vol. 6, issue 9, 1-17

Abstract: A nonrenewable resource extraction game model is analyzed in a differential game theory framework with random duration. If the cumulative distribution function (c.d.f.) of the final time is discontinuous, the related subgames are differentiated based on the position of the initial instant with respect to the jump. We investigate properties of optimal trajectories and of imputation distribution procedures if the game is played cooperatively.

Keywords: differential games; non zero-sum games; cooperative games; resource extraction; random duration; IDP procedure (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2018
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