Capital accumulation games of infinite duration
نویسندگان
چکیده
منابع مشابه
Capital Accumulation Games of Infinite Duration
Consider a market in which firms accumulate capital according to the Nerlove-Arrow capital accumulation equation. Each player chooses a path of investment and thus an induced path of capital to maximize his total discounted profits which depend on his own capital and the capital stocks of his rivals. Existence is proved for such a nonzero sum, infinite horizon differential game and conditions u...
متن کاملInfinite-Duration Bidding Games
Two-player games on graphs are widely studied in formal methods as they model the interaction between a system and its environment. The game is played by moving a token throughout a graph to produce an infinite path. There are several common modes to determine how the players move the token through the graph; e.g., in turn-based games the players alternate turns in moving the token. We study th...
متن کاملCapital Accumulation of a Firm
Using standard control theory in determining the firm's optimal dynamic investment decisions it turns out that it is always optimal to approach a long run optimal level of capital. In some cases, this equilibrium is reached within finite time, but usually it will be approached asymptotically. Also a necessary condition is determined under which history dependent equilibria can occur. Some of th...
متن کاملExistence of perfect equilibria in a class of multigenerational stochastic games of capital accumulation
In this paper we introduce a model of multigenerational stochastic games of capital accumulation where each generation consists ofm different players. The main objective is to prove the existence of a perfect stationary equilibrium in an infinite horizon game. A suitable change in the terminology used in this paper provides (in the case of perfect altruism between generations) a new Nash equili...
متن کاملExotic effects of capital accumulation.
T he accumulation of capital in Europe is strongly and positively associated with the accumulation of alien invasive species. In a study of the drivers behind biological invasions in Europe, Pyšek et al. (1) use European macroecological, economic, and demographic data to explain the variation in alien species richness of bryophytes, fungi, vascular plants, terrestrial insects, aquatic invertebr...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 1984
ISSN: 0022-0531
DOI: 10.1016/0022-0531(84)90094-2