Resource Exploitation in a Stochastic Horizon under Two Parametric Interpretations

摘要: This work presents a two-player extraction game where the random terminal times follow (different) heavy-tailed distributions which are not necessarily compactly supported. Besides, we delve into implications of working with logarithmic utility/terminal payoff functions. To this end, use standard actuarial results and notation, state connection between so-called equivalence principle, feedback controllers found by means Dynamic Programming technique. Our conclusions include conjecture on form optimal premia for insuring tasks; comparison intensities each player under different phases lifetimes their respective machineries.