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

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

Autor(es): Martín-Herrán, G.; Rincón-Zapatero, Juan Pablo
Editorial: Elsevier
Fecha de edición: 2005
Cita: Journal of Economic Dynamics and Control. 2005, vol. 29, nº 6, p. 1073-1096
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2004.08.004
Agradecimientos: We 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.
Revisado: PeerReviewed
Versión del editor: http://dx.doi.org/10.1016/j.jedc.2004.08.004
Palabras clave: Differential games , Markov-perfect Nash equilibria , Pareto optimum , Quaslinear partial differential equations , Fishery management
URI: http://hdl.handle.net/10016/5577
Derechos: © Elsevier

Resumen:

In 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 syst [+]

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