English, Article edition: NASH EQUILIBRIA IN UNCONSTRAINED STOCHASTIC GAMES OF RESOURCE EXTRACTION ÅUKASZ BALBUS; ANDRZEJ S. NOWAK

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Bookmark: http://trove.nla.gov.au/version/144472
Physical Description
  • article
Language
  • English

Edition details

Title
  • NASH EQUILIBRIA IN UNCONSTRAINED STOCHASTIC GAMES OF RESOURCE EXTRACTION
Author
  • ÅUKASZ BALBUS
  • ANDRZEJ S. NOWAK
Physical Description
  • article
Notes
  • A class of nonzero-sum symmetric stochastic games of capital accumulation/​resource extraction is considered. It is shown that Nash equilibria in the games with some natural constraints are also equilibrium solutions in unconstrained games and dominate in the Pareto sense an equilibrium leading to exhausting the entire resource stock in the first period of the game.
  • Nonzero-sum stochastic games, capital accumulation problems, resource extraction games, Nash equilibrium
  • RePEc:wsi:igtrxx:v:10:y:2008:i:01:p:25-35
Language
  • English
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