Evolutionary Dynamics in Heterogenous Oligopolies for the Exploitation of Renewable Natural Resources

newdigital Evolutionary Dynamics in Heterogenous Oligopolies for the Exploitation
of Renewable Natural Resources

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Fascicle

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2023 - 1. A special issue in honor of Gerd Weinrich

Title

Evolutionary Dynamics in Heterogenous Oligopolies for the Exploitation of Renewable Natural Resources

Authors

Gian Italo Bischi, Lucia Sbragia

Publisher

Vita e Pensiero

Format

Article |

Pdf

Online from

05-2023

Doi

10.26350/000518_000109

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

Ebook format Pdf readable on these devices:

Computer
with Software:
- Adobe PDF Reader
Android
iPhone/Ipad
with App:
- Adobe PDF Reader
E-Book Reader
Ibs Tolino
Kobo

Description

In this paper we provide an overview of some dynamic oligopoly models proposed in the literature to describe the exploitation of a common pool renewable natural resource (e.g. the fisheries) when agents can switch between different harvesting strategies. We suggest a switching mechanism which is an alternative version of the discrete-time replicator dynamics based on expected profits and myopic imitation of the better performing behaviors, often denoted as exponential replicator. We finally provide a general framework for modeling situations where authorities allow for different alternative strategies to exploit a natural resource and agents can choose among such possibilities by updating their decisions at discrete times on the basis of profitability considerations.

keywords

Bioeconomic Models, Oligopoly Games, Resource Exploitation, Replicator Dynamics

Authors biography

Gian Italo Bischi, Departments of Economics, Society, Politics (DESP) - University of Urbino - Italy. Email: gian.bischi@uniurb.it.
Lucia Sbragia, Department of Economics - Durham University Business School - UK. Email: lucia.sbragia@durham.ac.uk.