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Strategic Substitutes Or Complements? The Game Of Where To Fish, Robert L. Hicks, William C. Horrace, Kurt E. Schnier
Strategic Substitutes Or Complements? The Game Of Where To Fish, Robert L. Hicks, William C. Horrace, Kurt E. Schnier
Economics - All Scholarship
The ‘‘global game with strategic substitutes and complements’’ of Karp et al. (2007) is used to model the decision of where to fish. A complete information game is assumed, but the model is generalized to S > 1 sites. In this game, a fisherman’s payoff depends on fish density in each site and the actions of other fishermen which can lead to congestion or agglomeration effects. Stable and unstable equilibria are characterized, as well as notions of equilibrium dominance. The model is applied to the Alaskan flatfish fishery by specifying a strategic interaction function (response to congestion) that is a non-linear …
April 2011, Syracuse Department Of Economics
April 2011, Syracuse Department Of Economics
Economics - All Scholarship
No abstract provided.