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Título: Promotion of cooperation when benefits come in the future: A water transfer case
Autor: Cabo, Francisco
Tidball, Mabel
Año del Documento: 2017
Editorial: Elsevier
Descripción: Producción Científica
Documento Fuente: Resource and Energy Economics, 47, pp. 56-71.
Resumen: This paper presents a two-regime differential game, with a first period in which two countries cooperate in a joint investment project to construct a specific infrastructure. This period ends when the infrastructure is finished, which serves to increase each player’s welfare in a subsequent non-cooperative game played by the two countries thereafter. We define an imputation distribution procedure (IDP) to share the investment costs during cooperation according to each player’ future benefits. We prove that the IDP is time consistent if at any time within the cooperative period each country’s share on the surplus to go is equal to or converges towards the country’s relative gains from the existence of the infrastructure (real- ized in the subsequent non-cooperative period). Furthermore, we obtain the instantaneous side-payment scheme which makes the IDP feasible. The mechanism is studied for a joint investment project to build a water canal to transfer water between a surplus and a deficit river basin.
Materias (normalizadas): Environmental Economics
Differential games
Palabras Clave: Cooperative differential game
non-cooperative differential game
imputation distribution procedure
instantaneous side-payment
time-consistent solution
ISSN: 0928-7655
Revisión por Pares: SI
Patrocinador: MEC project ECO2014-52343-P, co- financed by FEDER funds. COST Action IS1104 “The EU in the new economic complex geography: models, tools and policy evaluation”.
Version del Editor:
Idioma: eng
Derechos: info:eu-repo/semantics/openAccess
Aparece en las colecciones:DEP20 - Artículos de revista

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