Differential game theoretic approach to economics of renewable resources. [Cournot--Nash equilibrium]

Conference · Mon Jan 01 00:00:00 EST 1979

OSTI ID:5995489

Takayama, T

A two-countries--single-species dynamic optimization problem in fisheries is formulated in differential game theoretic framework. The Cournot--Nash solution concept is introduced, and two strategies in arriving at the Cournot--Nash solutions are discussed. These strategies are closed-loop catch strategy and open-loop catch strategy. A quadratic benefit function is then used as the objective function of each country that is to be maximized subject to a linear population-catch dynamics. The major conclusions are as follows: The stable optimal catches show that each country must regulate the total catch of her fleet. The open-loop optimal catch strategies exist only when the future discount rates of the two countries are the same. The higher the future discount rates, the more fish will be caught now and in the near future, and the slower the convergence of this fish population to the desired level.

• Research Organization: Oak Ridge National Lab., TN (USA)
• DOE Contract Number: W-7405-ENG-26
• OSTI ID: 5995489
• Report Number(s): CONF-790716-2
• Resource Relation: Conference: 1979 IEEE international symposium on circuits and systems, Tokyo, Japan, 17 Jul 1979
• Country of Publication: United States
• Language: English

Related Subjects

59 BASIC BIOLOGICAL SCIENCES
FISHES
POPULATION DYNAMICS
FISHING INDUSTRY
DECISION MAKING
GAME THEORY
RENEWABLE RESOURCES
ECONOMICS
EQUILIBRIUM
FISHERY LAWS
INTERNATIONAL COOPERATION
MATHEMATICAL MODELS
RECOMMENDATIONS
ANIMALS
AQUATIC ORGANISMS
INDUSTRY
LAWS
MATHEMATICS
RESOURCES
STATISTICS
VERTEBRATES
550100* - Behavioral Biology