Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/257446 
Year of Publication: 
2020
Citation: 
[Journal:] Games [ISSN:] 2073-4336 [Volume:] 11 [Issue:] 3 [Article No.:] 28 [Publisher:] MDPI [Place:] Basel [Year:] 2020 [Pages:] 1-11
Publisher: 
MDPI, Basel
Abstract: 
In this paper, an efficient implementation of the Tau method is presented for finding the open-loop Nash equilibrium of noncooperative nonzero-sum two-player differential game problems with a finite-time horizon. Regarding this approach, the two-point boundary value problem derived from Pontryagin's maximum principle is reduced to a system of algebraic equations that can be solved numerically. Finally, a differential game arising from bioeconomics among firms harvesting a common renewable resource is included to illustrate the accuracy and efficiency of the proposed method and a comparison is made with the result obtained by fourth order Runge-Kutta method.
Subjects: 
bioeconomics
differential game theory
open-loop Nash equilibrium
Pontryagin's maximum principle
Tau method
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article
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