Dynamic common property resources and environmental problems (Q799469)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Dynamic common property resources and environmental problems |
scientific article |
Statements
Dynamic common property resources and environmental problems (English)
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1985
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Problems of interacting common-property resources are set up as stochastic differential games. A class of models is solved where equilibrium closed-loop strategies keep harvest rates proportional to stocks. Corrective taxes, etc., are considered.
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Nash equilibrium
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externalities
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Pareto efficient solutions
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natural resources
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common-property resources
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stochastic differential games
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closed-loop strategies
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taxes
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