 Resource extraction activity: an intergenerational approach with asymmetric playersQuaderni DSEMS from Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia Abstract: In this paper we study a di®erential game, for resource extraction of a renewable good, in which players are overlapping generations of extractors. The framework of overlapping generations allows us to consider intragenerational (players in the same generation) and inter- generational (players in di®erent generations) game equilibrium. We consider the case in which old extractors face lower costs than young competitors and this will result in an advantage in strategies for old generation which compensate partially the reduced marginal resource rent. Since we consider overlapping generations, players have asyn- chronous horizons, in contrast with a number of studies in intertem- poral exploitation of resources in which players have identical time horizons. We obtain the values function and strategies for extractors both for young generation and for old generations. Keywords: Feedback Nash Equilibrium; resource extraction; overlapping generations; asynchronous horizon. (search for similar items in EconPapers) Published in Game Theory and Applications, vol.13, pp. 45-55, 2008. There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ufg:qdsems:lg_gta_2008 Access Statistics for this paper More papers in Quaderni DSEMS from Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia Largo Papa Giovanni Paolo II, 1 -71100- Foggia (I). Contact information at EDIRC. |
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