Essays in Game Theory and Natural Resource Management: Coalitional Games, Solutions and Applications

Game theory has recently become an indispensable tool in environmental and resource economics because many of the typical features of environmental problems can be most adequately handled by means of game theoretic notions and models. Game theory provides powerful new tools to analyze externalities that occur in the context of the management of natural resource assets. This book is a collection of essays in game theory and its applications in analyzing environmental resource problems and their management. In this book, a resource problem refers to situations characterized by inefficient use of a resource, while resource management is defined as the design of resource allocation mechanisms, which leads to the efficient use of the resource. The major focus of the essays in game theory (Chapters 3, 4 and 5) is related to coalitional games, whereas the main issue of applications (Chapters 6 and 7) is related to international fisheries management in the context of the 1995 United Nations Agreement on the Implementation of the UN Convention on the Law of the Sea. The five essays are connected by the notion of "fair" solution applied to achieve efficient use of the resource. Read more