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

Bischi, Gian Italo; Sbragia, Lucia

Abstract

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. 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.

Citation

Bischi, G. I., & Sbragia, L. (2023). Evolutionary Dynamics in Heterogeneous Oligopolies for the Exploitation of Renewable Natural Resources. Rivista internazionale di scienze sociali, 2023(1), 35-64. https://doi.org/10.26350/000518_000109

• Journal Article Type: Article
• Acceptance Date: Sep 1, 2022
• Online Publication Date: May 31, 2023
• Publication Date: 2023-05
• Deposit Date: Apr 27, 2023
• Journal: Rivista internazionale di Scienze Sociali / Research in Social Sciences
• Print ISSN: 0035-676X
• Electronic ISSN: 1827-7918
• Peer Reviewed: Peer Reviewed
• Volume: 2023
• Issue: 1
• Pages: 35-64
• DOI: https://doi.org/10.26350/000518_000109
• Public URL: https://durham-repository.worktribe.com/output/1176428
• Publisher URL: https://riss.vitaepensiero.it/