On variational inequality approach to nash dynamic game of oil stockpiling^∗

^† Research of this author was supported in part by SUNY College at Old Westbury under the Summer Research Grant

Abstract

Oil market disruption and strategic stockpiling are consideredin this work. A variational inequality approach is developed.The model treated here is more general than previous work.It is established that the Nash equilibrium is characterized by a system of inequalities. A sufficient condition for the existence and uniqueness of the Nash equilibrium is derived and an efficient iterative algorithm is proposed and analyzed

Keywords:

• Oil Stockpiling
• Strategic Planning
• Dynamic Game
• Nash Equilibrium
• Variational Inequality

^† Research of this author was supported in part by SUNY College at Old Westbury under the Summer Research Grant

^∗Research of this author was supported in part by the National Science Foundation under Grant DMS-9224372, and in part by Wayne State University

^† Research of this author was supported in part by SUNY College at Old Westbury under the Summer Research Grant

^∗Research of this author was supported in part by the National Science Foundation under Grant DMS-9224372, and in part by Wayne State University

Notes

^† Research of this author was supported in part by SUNY College at Old Westbury under the Summer Research Grant

^∗Research of this author was supported in part by the National Science Foundation under Grant DMS-9224372, and in part by Wayne State University