Retour aux activités
Séminaire Fondation HEC Montréal

A differential game model for the extraction of non renewable resources with random initial times: The cooperative and competitive cases

iCalendar

6 juil. 2016   11h00 — 12h00

José Daniel López Barrientos Universidad Anáhuac México Norte, Mexique

In this talk we propose a model for the extraction of a non renewable resource in an economy where, initially, only one agent is enabled to perform extraction tasks. However, at certain non predictable (random) times, more companies receive the government's approval for extracting the country's resources. We provide a set up suitable for the use of standard dynamic programming results for both, the competitive and cooperative schemes; we develop the corresponding HJB equations, prove a verification theorem, and give an example. Our framework is inspired by the trends that oil industries are experiencing in countries like Mexico and Russia.


Entrée gratuite.
Bienvenue à tous!

Georges Zaccour responsable

Lieu

Salle 4488
Pavillon André-Aisenstadt
Campus de l'Université de Montréal
2920, chemin de la Tour Montréal QC H3T 1J4 Canada

Organismes associés

Axe de recherche

Application de recherche