Analysis of Nash equilibria in a class of capital accumulation games
Article Abstract:
The existence and dynamic characteristics of the cooperative solution, two kinds of Markov perfect equilibria (MPE) and a trigger strategy equilibrium are examined in a simple capital accumulation game. In the cooperative solution as well as the first MPE, the stock always assumes a steady state. On the other hand, the second MPE leads to complex dynamics. A Pareto comparison demonstrates that the strict MPE can be dominated by the other MPE for particular parameter constellations while the strict MPE is the dominated entity for other parameter values.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1996
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Capital accumulation games with a non-concave production function
Article Abstract:
The analysis of two different capital accumulation games and their corresponding equilibrium, with reference to an economy with a single stock are furnished.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2005
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Recursive Nash bargaining over a productive asset
Article Abstract:
Using the recursive Nash equilibrium solution, the result of negotiations between two agents over the usage of a productive asset are described.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2006
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