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Updated: Mar 17, 2026

Watershed Planning within a Quantitative Scenario Analysis Framework
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Published on: July 24, 2016

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Battle for Climate and Scarcity Rents: Beyond the Linear-Quadratic Case.

Mark Kagan1, Frederick van der Ploeg2, Cees Withagen1

  • 1VU University Amsterdam, De Boelelaan 1105, 1081 HV Amsterdam, The Netherlands.

Dynamic Games and Applications
|July 16, 2016
PubMed
Summary
This summary is machine-generated.

This study reveals that strategic interactions between oil-importing and exporting nations, involving carbon taxes and monopoly pricing, distort oil extraction and carbon accumulation. Outcomes differ from efficient levels, potentially harming consumer welfare.

Keywords:
Carbon taxClimate rentDifferential gameEfficiencyExhaustible resourcesHARA production functionsHotelling ruleOpen-loop Nash equilibriumSubgame-perfect Nash equilibrium

Related Experiment Videos

Last Updated: Mar 17, 2026

Watershed Planning within a Quantitative Scenario Analysis Framework
12:44

Watershed Planning within a Quantitative Scenario Analysis Framework

Published on: July 24, 2016

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Area of Science:

  • Environmental Economics
  • International Trade Theory
  • Game Theory

Background:

  • Nations engage in strategic trade and environmental policy interactions.
  • Oil extraction and carbon accumulation are critical global issues.
  • Monopoly pricing and carbon taxes influence resource management.

Purpose of the Study:

  • Analyze strategic interactions between an oil-importing and an oil-exporting nation.
  • Compare open-loop and feedback Nash equilibria with efficient outcomes.
  • Investigate the welfare implications of using carbon taxes as import tariffs.

Main Methods:

  • Economic modeling of international trade with environmental externalities.
  • Analysis of strategic interactions using game theory (Nash equilibria).
  • Examination of HARA and non-HARA production function specifications.

Main Results:

  • In Nash equilibrium, oil prices and extraction rates deviate from efficient levels for HARA and non-HARA functions.
  • Open-loop Nash equilibrium shows initially high oil prices and later low prices compared to efficient outcomes.
  • Feedback Nash equilibrium features a flatter carbon tax path than open-loop Nash.

Conclusions:

  • Strategic trade and environmental policies lead to suboptimal resource extraction and carbon accumulation.
  • Using carbon taxes as import tariffs can negatively impact consumer welfare.
  • Understanding these strategic dynamics is crucial for effective climate and trade policy.