Abstract:
The oligopoly model of international fishing of Szidarovszky and
Okuguchi [7] where the harvesting countries form a coalition is revisited
with the additional assumption that there is a time lag in
obtaining and implementing information on the fish stock. The introduction
of continuously distributed time lags results in a special
Volterra-type integro-differential equation. Since it is equivalent to a
system of nonlinear ordinary differential equations, linearization and standard techniques are used to examine the local asymptotic behavior
of the equilibrium. Stability conditions are derived and in the case
of instability special cyclic behavior is analyzed.
