A two-person non-zero-sum game model of the world oil market
نویسندگان
چکیده
منابع مشابه
A two-person non-zero-sum game &ode1 of the world oil market
The world oil market is modelled as a two-person non-zero-sum game in normal form with each player having a continuum of strategies. The two players are the oil importing nations (OPIC) and the oil exporting nations (OPEC). The game is solved in the noncooperative sense using the equilibrium point solution concept due to Nash. The Nash equilibrium point solution yields an analytic expression fo...
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Economists use the word rational in a narrow way. To an economist, a rational actor is someone who makes decisions that maximize her (or his) preferences subject to constraints imposed by the environment. So, this actor knows her preferences and knows how to go about optimizing. It is a powerful approach, but it probably is only distantly related to what you mean when you think of yourself as r...
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ژورنال
عنوان ژورنال: Applied Mathematical Modelling
سال: 1980
ISSN: 0307-904X
DOI: 10.1016/0307-904x(80)90198-5