On Limits to the Use of Linear Markov Strategies in Common Property Natural Resource Games |
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| Authors: | Gérard Gaudet Hervé Lohoues |
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| Affiliation: | (1) Département de Sciences économiques and CIREQ, Université de Montréal, Montreal, Canada;(2) Analysis Group Inc., Boston, MA, USA |
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| Abstract: | We derive conditions that must be satisfied by the primitives of the problem in order for an equilibrium in linear Markov strategies to exist in some common property natural resource differential games. These conditions impose restrictions on the admissible form of the natural growth function, given a benefit function, or on the admissible form of the benefit function, given a natural growth function. |
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| Keywords: | Common property Natural resources Differential games Linear Markov strategies |
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