Financial conditions, strategic interaction and complex dynamics: a game-theoretic model of financially driven fluctuations
Article Abstract:
The properties of a simple oligopolistic set-up in which firms run the risk of bankruptcy or gain a solidity bonus according to their financial conditions are explored. A game-theoretic model generates the laws of motion of firms' net worth that may determine convergence to a symmetric steady state or more complex dynamical behaviors, periodic or chaotic, depending on the values of the parameters.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2004
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Financial fragility, patterns of firms' entry and exit and aggregate dynamics
Article Abstract:
The entry-exit process of industrial dynamics shows, how the financial conditions of the firm affect the capital accumulation. The patterns of entry-exit affect the dynamics of the distribution of firms which are differentiated by the Equity ratio.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2003
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A new approach to business fluctuations: heterogeneous interacting agents, scaling laws and financial fragility
Article Abstract:
Scaling method to examine business fluctuations is presented.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2005
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