Abstract
This paper deals with a class ofN-person nonzero-sum differential games where the control variables enter into the state equations as well as the payoff functionals in an exponential way. Due to the structure of the game, Nash-optimal controls are easily determined. The equilibrium in open-loop controls is also a closed-loop equilibrium. An example of optimal exploitation of an exhaustible resource is presented.
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Communicated by Y. C. Ho
The helpful comments of Professor Y. C. Ho and Dipl. Ing. E. Dockner are gratefully acknowledged.
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Jørgensen, S. An exponential differential game which admits a simple Nash solution. J Optim Theory Appl 45, 383–396 (1985). https://doi.org/10.1007/BF00938442
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DOI: https://doi.org/10.1007/BF00938442