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• W1555144511 abstract "In the analysis of equilibrium policies in a di erential game, if agents have different time preference rates, the cooperative (Pareto optimum) solution obtained by applying the Pontryagin's Maximum Principle becomes time inconsistent. In this work we derive a set of dynamic programming equations (in discrete and continuous time) whose solutions are time consistent equilibrium rules for N-player cooperative di erential games in which agents di er in their instantaneous utility functions and also in their discount rates of time preference. The results are applied to the study of a cake-eating problem describing the management of a common property exhaustible natural resource. The extension of the results to a simple common property renewable natural resource model in in nite horizon is also discussed." @default.
• W1555144511 created "2016-06-24" @default.
• W1555144511 creator A5013524732 @default.
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• W1555144511 date "2011-01-01" @default.
• W1555144511 modified "2023-09-27" @default.
• W1555144511 title "Time consistent Pareto solutions in common access resource gameswith asymmetric players" @default.
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• W1555144511 hasPublicationYear "2011" @default.
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