Sustainable Cooperation in a Bicriteria Game of Renewable Resource Extraction
نویسندگان
چکیده
We study a multi-objective finite-horizon game model of renewable, common resource extraction where the players have two separate objectives (one is economic success; other describes players’ environmental concern). derive cooperative strategy and subgame-perfect Pareto equilibrium in linear-state non-stationary feedback strategies by employing dynamic programming approach. Since utility transferable only based on criterion, we need to revise concept time consistency payoff-distribution procedure provide mechanism for sustainable long-term cooperation. All results are illustrated with numerical example.
منابع مشابه
Bicriteria Resource Allocation Problem in Pert Networks
We develop a bicriteria model for the resource allocation problem in PERT networks, in which the total direct costs of the project as the first objective, and the mean of project completion time as the second objective are minimized. The activity durations are assumed to be independent random variables with either exponential or Erlang distributions, in which the mean of each activity duration ...
متن کاملRenewable Resource Management, User Heterogeneity, and the Scope for Cooperation *
Cooperation can increase the efficiency of commonly–owned renewable resource use. However, received knowledge is that, absent side payments, cooperative solutions are more difficult to achieve the less homogenous the agents involved. We revisit this claim by analyzing how differences in the opportunity costs of resource harvesting affect the scope for Pareto–improving contracts, where contracti...
متن کاملMulti-objective Modeling Based on Competition Airlines Cooperation by Game Theory and Sustainable Development Approach
In each time period, the demand of passengers for each route are finite and airlines compete for earning more profits. The complex competition among airlines causes problems, such as complicating flight planning and increasing empty seats for some routes. These problems increase air pollution and fuel consumption. To solve these problems, this research studies the cooperation of the airlines wi...
متن کاملRisk-Sensitive Policies for Sustainable Renewable Resource Allocation
Markov Decision Processes arise as a natural model for many renewable resources allocation problems. In many such problems, high stakes decisions with potentially catastrophic outcomes (such as the collapse of an entire ecosystem) need to be taken by carefully balancing social, economic, and ecologic goals. We introduce a broad class of such MDP models with a risk averse attitude of the decisio...
متن کاملBicriteria Resource Allocation Problem in Pert Networks
We develop a bicriteria model for the resource allocation problem in PERT networks, in which the total direct costs of the project as the first objective, and the mean of project completion time as the second objective are minimized. The activity durations are assumed to be independent random variables with either exponential or Erlang distributions, in which the mean of each activity duration ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Mathematics
سال: 2023
ISSN: ['2227-7390']
DOI: https://doi.org/10.3390/math11061497