Dynamics of a Quantum Common-Pool Resource Game with Homogeneous Players’ Expectations

Abstract

In this work, we analyse a common-pool resource game with homogeneous players (both have boundedly rational expectations) and entanglement between players’ strategies. The quantum model with homogeneous expectations is a differential approach to the game since, to the best of our knowledge, it has hardly been considered in previous works. The game is represented using a Cournot type payoff functions, limited to the maximum capacity of the resource. The behaviour of the dynamics is studied considering how the fixed points (particularly the Nash equilibrium) and the stability of the system vary depending on the different values of the parameters involved in the model. In the analysis of this game, it is especially relevant to consider the extent to which the resource is exploited, since the output of the players is highly affected by this issue. It is studied in which cases the resource can be overexploited, adjusting the parameters of the model to avoid this scenario when it is possible. The results are obtained from an analytical point of view and also graphically using bifurcation diagrams to show the behaviour of the dynamics.

Keywords

• quantum games
• common-pool resource game
• entanglement
• homogeneous players
• local stability analysis
• bifurcation and chaos