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A note on clemhout and Wan's dynamic games of common property resources
Author(s)
Date Issued
1987
ISSN
0022-3239
Citation
Journal of Optimization Theory and Applications, 1987, vol. 55, pp. 327-331.
Type
Peer Reviewed Journal Article
Abstract
Recently, Clemhout and Wan (Ref. 1) 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.
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