Equilibria and Threats in a Fishery Management Game

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A two-country fishery management game is considered in the realm of the theory of non-cooperative and cooperative differential games. Conditions which guarantee global asymptotic stability of the open-loop equilibrium trajectories, are given and applied to a class of harvest games. Cooperative solutions of the two country fishery management games are looked for using the Kalaï-Smorodinsky bargaining schemes. It is shown how the use of retaliation threats can transform a cooperative solution into an equilibrium memory strategy. Two numerical examples present an analysis of threat effectiveness.

The "Turnpike" property, or global asymptotic stability of optimally controlled systems, is an important part of the computational approach used.

, 33 pages