A note on Clemhout and Wan's dynamic games of common property resources
type: Item
instance of: scholarly article
title: A note on Clemhout and Wan's dynamic games of common property resources
zbMATH Open document ID: 0618.90107
DOI: 10.1007/BF00939089
author: B. George
published in: Journal of Optimization Theory and Applications
publication date: 1987-01-01T00:00:00Z
review text: Recently, \textit{S. Clemhout} and \textit{H. Y. Wan} [ibid. 46, 471-481 (1985; Zbl 0564.90009)] 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.
Mathematics Subject Classification ID: 91A15
Mathematics Subject Classification ID: 91A60
Mathematics Subject Classification ID: 91B62
zbMATH DE Number: 4003952
zbMATH Keywords: stochastic differential game
zbMATH Keywords: common property resources
zbMATH Keywords: closed-loop feedback solutions
zbMATH Keywords: finite-time horizon
zbMATH Keywords: deterministic evolution dynamics
MaRDI profile type: Publication
cites work: Dynamic common property resources and environmental problems
cites work: Stochastic stability and control
cites work: Probability limit theorems and the convergence of finite difference approximations of partial differential equations
cites work: Dynamic noncooperative game theory
cites work: Q4090158
description: scientific article; zbMATH DE number 4003952