nonconvex
Abstract:

In this talk, we will develop a mean-field game system to observe how players can deplete resources by their selfish actions. The system will consist of three equations, a continuity equation modelling the movement of players, a reaction-diffusion equation modelling the evolution of resources and a Hamilton-Jacobi equation responsible to give the optimal feedback to the players.  This system shows travelling waves that go on the contrary sense to the travelling waves in the absence of players, leading to the extinction of the resource. However, this situation does not need to happen when players collaborate, and higher extraction rates can be achieved whilst not having a depletion of the resource. The result shows that any policy for preventing the collapse of fisheries cannot be based on the total number of catches without taking into account space variables.