A GAME THEORETICAL MODEL OF INTERNATIONAL FISHING WITH TIME DELAY

Ferenc Szidarovszky (), Andrew Engel () and Carl Chiarella
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Ferenc Szidarovszky: Systems and Industrial Engineering Department, University of Arizona, Tucson, Arizona 85721-0020, USA
Andrew Engel: Mathematics Department, Towson University, 8000 York Road, Towson, MD 21252-0001, USA

International Game Theory Review (IGTR), 2004, vol. 06, issue 03, 391-415

Abstract: This paper studies the evolution of a fish stock that is exploited by ann-country oligopoly. A feature of the economic structure is that the countries exploiting the fish stock experience time lags in obtaining and implementing information on the fish stock. The local asymptotic behavior of the equilibrium is analyzed, including asymptotic stability, instability, and cyclical behavior. Under the assumption of symmetric countries, two special cases are examined in detail. In the first case identical time delays are assumed, and in the second case it is assumed that one country has a different time delay from the others. This semi-symmetric case gives some insight into the consequence of asymmetry of the countries on the asymptotic behavior of the fish stock.

Keywords: Oligopoly; time delay; stability; bifurcation (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1142/S0219198904000277

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