Agenda

Silvia Faggian, Ca' Foscari University of Venice

Abstract:
Continuous time in models where a common property resource stock is exploited simultaneously by N agents, and in particular their Stationary Markov perfect Nash equilibria, have been widely studied in literature under different sets of hypotheses. Here we treat the case of a resource which is distributed in space and mobile through the entire territory (such as a fish population or a transboundary oil deposit). As a spatial support we consider a generic finite simple graph, where we specify productivity at each node. We also assume that the diffusion process follows Fick’s first law among connected nodes, and we specify for each arc the “intensity” of the connection. We characterize internal linear Markov Nash equilibria for the dynamic game of N symmetric players having the same isoelastic utility. We show how they depend on the structure of the graph and we describe the efficiency of the related spatial public policies.

co-authors: G. Fabbri, G. Freni