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Resource extraction under heterogeneous growth in demand

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  • Masoudi, Nahid
  • Santugini, Marc

Abstract

We study the effect of heterogeneous growth in demand on resource extraction. Using the Great Fish War framework of Levhari and Mirman (1980), we show that heterogeneity in demand growth has a profound effect on both non-cooperative (Cournot-Nash and Stackelberg) and cooperative solutions.

Suggested Citation

  • Masoudi, Nahid & Santugini, Marc, 2015. "Resource extraction under heterogeneous growth in demand," Resource and Energy Economics, Elsevier, vol. 42(C), pages 16-30.
    • Handle: RePEc:eee:resene:v:42:y:2015:i:c:p:16-30
    DOI: 10.1016/j.reseneeco.2015.06.003
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    References listed on IDEAS

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    1. Krausmann, Fridolin & Gingrich, Simone & Eisenmenger, Nina & Erb, Karl-Heinz & Haberl, Helmut & Fischer-Kowalski, Marina, 2009. "Growth in global materials use, GDP and population during the 20th century," Ecological Economics, Elsevier, vol. 68(10), pages 2696-2705, August.
    2. Ngo Long, 2011. "Dynamic Games in the Economics of Natural Resources: A Survey," Dynamic Games and Applications, Springer, vol. 1(1), pages 115-148, March.
    3. David Levhari & Leonard J. Mirman, 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 322-334, Spring.
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    More about this item

    Keywords

    Common-pool resource; Dynamic games; Heterogeneous growth; Strategic extraction; Tragedy of the commons;
    All these keywords.

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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