A note on clemhout and Wan's dynamic games of common property resources |
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| Authors: | C Plourde D Yeung |
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| Institution: | (1) Department of Economics, York University, Ontario, Canada |
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| Abstract: | Recently, Clemhout and Wan (Ref. 1) provided solutions to a class of stochastic differential game models concerning common property resources. However, they only established closed-loop strategies for the infinite-horizon problem using the Kushner test. In this paper, we provide closed-loop feedback solutions to their game in a finite-time horizon with deterministic evolution dynamics.The helpful comments of an anonymous referee are gratefully acknowledged. |
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| Keywords: | Stochastic differential games differential games finitetime horizon closed-loop strategies |
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