Game theory is commonly used to describe strategic interactions between multiple agents in situations, when decisions of one agent affect the outcomes of decisions of others. Environmental issues, such as climate change, air pollution, access to water etc. are examples of such situations: agents – countries, industries, local communities and individuals make decisions aiming to optimize their interests, which often leads to overexploitation of the common resource. Game-theoretic models of strategic interactions can help devise policies to modify agents’ utility functions to push their decisions towards more sustainable resource use.
Last edited: 10 February 2016
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