DocumentCode :
1300219
Title :
Differential game theoretic policies for consumption-regulation of renewable resources
Author :
Takayama, T. ; Simaan, M.
Author_Institution :
Dev. Res. Center, World Bank, Washington, DC, USA
Issue :
5
fYear :
1984
Firstpage :
764
Lastpage :
766
Abstract :
Continuous unplanned consumption of renewable resources (e.g., fish) could lead to their extinction. A two-country single-renewable-resource dynamic model is formulated in a differential game-theoretic framework. A competitive market consumer benefit function is used as an objective function to be maximized by each country, subject to the resource population/growth/catch dynamics. The optimal competitive catch strategies are derived, and their economic implications are discussed. It is shown that, in general, the optimal catch strategies are not always competitive. Possibilities for each country to be idle or to apply an optimal (monopolistic) catch strategy are also feasible.
Keywords :
game theory; natural resources; competitive market; consumer benefit function; consumption; differential game-theoretic framework; optimal catch strategies; renewable resources; resource population; two country dynamic model; Aquaculture; Economics; Games; Marine animals; Sociology; Statistics;
fLanguage :
English
Journal_Title :
Systems, Man and Cybernetics, IEEE Transactions on
Publisher :
ieee
ISSN :
0018-9472
Type :
jour
DOI :
10.1109/TSMC.1984.6313299
Filename :
6313299
Link To Document :
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