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Using Game Theory Approach ro Interpret Stable Policies for Iran's Oil and Gas Common Resource Conflicts with Iraq and Qatar

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Type: Journal Article
Author: Esmaeili, Maryam; Bahrini, Aram; Shayanrad, Sepideh
Journal: Journal of Industrial Engineering International
Date: 2015
URI: https://hdl.handle.net/10535/9905
Sector: Theory
Region: Middle East & South Asia
Subject(s): conflict resolution
game theory
natural gas
oil industry
Abstract: "Oil and gas as the non-renewable resources are considered very valuable for the countries with petroleum economics. These resources are not only diffused equally around the world, but also they are common in some places which their neighbors often come into conflicts. Consequently, it is vital for those countries to manage their resource utilization. Lately, game theory was applied in conflict resolution of common resources, such as water, which is a proof of its efficacy and capability. This paper models the conflicts between Iran and its neighbors namely Qatar and Iraq between their oil and gas common resources using game theory approach. In other words, the future of these countries will be introduced and analyzed by some well-known 2 × 2 games to achieve a better perspective of their conflicts. Because of information inadequacy of the players, in addition to Nash Stability, various solution concepts are used based on the foresight, disimprovements, and knowledge of preferences. The results of mathematical models show how the countries could take a reasonable strategy to exploit their common resources."

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