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A Stackelberg differential game with overlapping generations for the management of a renewable resource

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  • Luca Grilli

Abstract

In this paper we study a differential game, for the extraction activity of a renewable good, in which players are overlapping generations. The framework of overlapping generations allows us to consider intragenerational (players in the same generation) and intergenerational (players in different generations) game equilibria. We consider the case in which players, even if identical, face competition in an asymmetric way. Since we consider overlapping generations, players have asynchronous time horizons, in contrast with a number of studies in intertemporal exploitation of resources in which players have identical time horizons. We conclude by considering the case in which players compete in a leader-follower way. We introduce a Stackelberg differential game with asynchronous time horizons and non fixed role structure. The overlapping generations’ framework results in the presence of two different behaviours, the myopic and the non-myopic behaviour. We present a possible solution for the myopic case.

Suggested Citation

  • Luca Grilli, 2009. "A Stackelberg differential game with overlapping generations for the management of a renewable resource," Quaderni DSEMS lg_ssir_2009, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    • Handle: RePEc:ufg:qdsems:lg_ssir_2009
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    Cited by:

    1. Luca Grilli & Pasquale Marcello Falcone, 2010. "Quantitative Analysis of the Fishing Activity in the Gulf of Manfredonia (Gargano, South-Italy)," Quaderni DSEMS lg_jep_2010, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.

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