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Explore a dynamic game theory approach to groundwater resource management in this 47-minute seminar from the Dynamic Games and Applications series. Delve into a two-stage discrete Stackelberg game model that addresses the challenge of balancing regular irrigation use with exceptional, priority extraction for new purposes. Compare open-loop (commitment) and feedback (non-commitment) equilibrium strategies, examining their impacts on resource stock levels and user profits. Gain insights into the complex interplay between water agencies and regular users, and discover how different management approaches can lead to unexpected outcomes in groundwater conservation and economic benefits.
