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A Game Theoretical Model Of International Fishing With Time Delay

Author

Listed:
  • FERENC SZIDAROVSZKY

    (Systems and Industrial Engineering Department, University of Arizona, Tucson, Arizona 85721-0020, USA)

  • ANDREW ENGEL

    (Mathematics Department, Towson University, 8000 York Road, Towson, MD 21252-0001, USA)

  • CARL CHIARELLA

    (School of Finance and Economics, University of Technology, Sydney, P.O. Box 123, Broadway, NSW 2007, Australia)

Abstract

This paper studies the evolution of a fish stock that is exploited by ann-country oligopoly. A feature of the economic structure is that the countries exploiting the fish stock experience time lags in obtaining and implementing information on the fish stock. The local asymptotic behavior of the equilibrium is analyzed, including asymptotic stability, instability, and cyclical behavior. Under the assumption of symmetric countries, two special cases are examined in detail. In the first case identical time delays are assumed, and in the second case it is assumed that one country has a different time delay from the others. This semi-symmetric case gives some insight into the consequence of asymmetry of the countries on the asymptotic behavior of the fish stock.

Suggested Citation

  • Ferenc Szidarovszky & Andrew Engel & Carl Chiarella, 2004. "A Game Theoretical Model Of International Fishing With Time Delay," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 6(03), pages 391-415.
    • Handle: RePEc:wsi:igtrxx:v:06:y:2004:i:03:n:s0219198904000277
    DOI: 10.1142/S0219198904000277
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    More about this item

    Keywords

    Oligopoly; time delay; stability; bifurcation;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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