Dynamic common property resources and environmental problems

作者: S. Clemhout , H. Y. Wan

DOI: 10.1007/BF00939152

关键词: Nash equilibriumMathematical optimizationTheory of computationMathematicsNatural resourceClass (set theory)Common-pool resourceExternalityStochastic controlDifferential (mechanical device)

摘要: Problems of interacting common-property resources are set up as stochastic differential games. A class models is solved where equilibrium closed-loop strategies keep harvest rates proportional to stocks. Corrective taxes, etc., considered.

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