A note on Clemhout and Wan's dynamic games of common property resources (Q1089273): Difference between revisions
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Revision as of 02:10, 5 March 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A note on Clemhout and Wan's dynamic games of common property resources |
scientific article |
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A note on Clemhout and Wan's dynamic games of common property resources (English)
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1987
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Recently, \textit{S. Clemhout} and \textit{H. Y. Wan} [ibid. 46, 471-481 (1985; Zbl 0564.90009)] provided solutions to a class of stochastic differential game models concerning common property resources. However, they only established closed-loop strategies for the infinite-horizon problem using the Kushner test. In this paper, we provide closed-loop feedback solutions to their game in a finite-time horizon with deterministic evolution dynamics.
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stochastic differential game
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common property resources
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closed-loop feedback solutions
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finite-time horizon
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deterministic evolution dynamics
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