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Efficient Markov perfect Nash equilibria: theory and application to dynamic fishery games

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorMartín-Herrán, G.
dc.contributor.authorRincón-Zapatero, Juan Pablo
dc.date.accessioned2012-10-04T11:47:21Z
dc.date.available2012-10-04T11:47:21Z
dc.date.issued2005
dc.description.abstractIn this paper, we present a method for the characterization of Markov perfect Nash equilibria being Pareto efficient in non-linear differential games. For that purpose, we use a new method for computing Nash equilibria with Markov strategies by means of a system of quasilinear partial differential equations. We apply the necessary and sufficient conditions derived to characterize efficient Markov perfect Nash equilibria to dynamic fishery games.
dc.description.sponsorshipWe are grateful to the editor Kenneth L. Judd and an anonymous referee for helpful comments. The research of the first author was supported by MCYT under project BEC2002-02361 and JCYL under project VA51/03, cofinanced by FEDER funds. The research of the second author was supported by MCYT under project BFM2002–00425 and JCYL under project VA099/04 cofinanced by FEDER funds.
dc.description.statusPublicado
dc.format.mimetypetext/plain
dc.format.mimetypeapplication/pdf
dc.identifier.bibliographicCitationJournal of Economic Dynamics and Control. 2005, vol. 29, nº 6, p. 1073-1096
dc.identifier.doi10.1016/j.jedc.2004.08.004
dc.identifier.issn0165-1889
dc.identifier.publicationfirstpage1073
dc.identifier.publicationissue6
dc.identifier.publicationlastpage1096
dc.identifier.publicationtitleJournal of Economic Dynamics and Control
dc.identifier.publicationvolume29
dc.identifier.urihttps://hdl.handle.net/10016/5577
dc.language.isoeng
dc.publisherElsevier
dc.relation.publisherversionhttp://dx.doi.org/10.1016/j.jedc.2004.08.004
dc.rights© Elsevier
dc.rights.accessRightsopen access
dc.subject.ecienciaEconomía
dc.subject.otherDifferential games
dc.subject.otherMarkov-perfect Nash equilibria
dc.subject.otherPareto optimum
dc.subject.otherQuaslinear partial differential equations
dc.subject.otherFishery management
dc.titleEfficient Markov perfect Nash equilibria: theory and application to dynamic fishery games
dc.typeresearch article*
dc.type.hasVersionAM*
dc.type.reviewPeerReviewed
dspace.entity.typePublication
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