TY - JOUR
T1 - Game theoretic models for energy production
AU - Ludkovski, Michael
AU - Sircar, Ronnie
N1 - Publisher Copyright:
© Springer Science+Business Media New York 2015
PY - 2015
Y1 - 2015
N2 - We give a selective survey of oligopoly models for energy production which capture to varying degrees issues such as exhaustibility of fossil fuels, development of renewable sources, exploration and new technologies, and changing costs of production. Our main focus is on dynamic Cournot competition with exhaustible resources. We trace the resulting theory of competitive equilibria and discuss some of the major emerging strands, including competition between renewable and exhaustible producers, endogenous market phase transitions, stochastic differential games with controlled jumps, and mean field games.
AB - We give a selective survey of oligopoly models for energy production which capture to varying degrees issues such as exhaustibility of fossil fuels, development of renewable sources, exploration and new technologies, and changing costs of production. Our main focus is on dynamic Cournot competition with exhaustible resources. We trace the resulting theory of competitive equilibria and discuss some of the major emerging strands, including competition between renewable and exhaustible producers, endogenous market phase transitions, stochastic differential games with controlled jumps, and mean field games.
UR - http://www.scopus.com/inward/record.url?scp=84934753132&partnerID=8YFLogxK
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U2 - 10.1007/978-1-4939-2733-3_12
DO - 10.1007/978-1-4939-2733-3_12
M3 - Article
AN - SCOPUS:84934753132
SN - 1069-5265
VL - 74
SP - 317
EP - 333
JO - Fields Institute Communications
JF - Fields Institute Communications
ER -