Ecology, Environment and Conservation Business
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Natural Resource Modeling
New natural resource modeling study findings recently were published by researchers at University of Foggia
March 13th, 2010
"In this paper, we propose a model describing the commercial exploitation of a common renewable resource by a population of strategically interacting agents. Players can cooperate or compete; cooperators maximize the payoff of their group while defectors maximize their own profit," scientists in Foggia, Italy report.
"The partition of the players into two groups, defectors and cooperators, results from the players' choices, so it is not predetermined. This partition is decided as a Nash equilibrium of a static game. It is shown that different types of players can exist in an equilibrium; more precisely, depending on the parameter values such as resource stock, cost, and so...
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Source: Ecology, Environment and Conservation Business (2010-03-13)