Inter‐ and intragenerational renewableresource extraction
作者： S. Jørgensen , D.W.K. Yeung
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摘要: The paper develops a differential game in which there are overlapping generationsof extractors of renewable resource. We consider intragenerational as well intergenerationalcompetition between extractors. An interesting feature the game, isnovel games, is asynchronous horizons players resulting fromoverlapping generations. A feedback Nash equilibrium characterizing extraction rates ofthe generations identified. In particular, value functions and strategiesare obtained closed form. extension model to stochastic with randomresource stock dynamics obtained.
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