Differentiated Goods in a Dynamic Cournot Duopoly with Emission Charges on Outputs PDF Download
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Author: Ahmad Naimzada
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Ahmad Naimzada
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Ahmad Kabir Naimzada
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
According to the existing empirical literature, the price and the exchanged quantity volatility observed in real-world markets may be explained in terms of the endogenous fluctuations generated by the presence of nonlinearities. We then replace with a sigmoid adaptive best response mechanism, characterized by the presence of two horizontal asymptotes, the linear partial best response mechanism considered in Mamada and Perrings (2020), where the effect produced by quadratic emission charges on the dynamics of a Cournot duopoly model with homogeneous goods was investigated. Due to the sigmoid adaptive mechanism, output variation in each period depends also on the current production volume. Moreover, the sigmoid nonlinearity, in addition to being well suited to describing the bounded output variations caused by physical, historical, and institutional constraints, makes the model able to generate interesting, non-divergent dynamic outcomes, despite the linearity of the demand function and marginal costs. Additionally, following the suggestion in Mamada and Perrings (2020), we deal with the more general case of differentiated products. Beyond analytically studying the stability of the unique steady state, coinciding with the Nash equilibrium, and the effect produced by the main parameters on the stability region, we propose two dynamical approaches which allow us to evaluate the environmental policy efficacy when the Nash equilibrium is not stable and thus the standard comparative statics technique does not fit for the purpose. In particular, the former approach, which is based on a comparison of emissions for different levels of charges, shows that also in case the Nash equilibrium is not stable, the considered environmental policy may be effective both with complements and with substitutes. The latter approach, consisting in a comparison of emissions along non-stationary trajectories and along the equilibrium path, in the proposed experiments, highlights that emissions are larger along non-stationary trajectories. This gives us the opportunity to show how to act on the level of the asymptotes of the sigmoid adjustment mechanism to reduce output variations, reaching at one time a complete stabilization of the system and limiting pollution.
Author: Keiko Nakayama
Publisher: Springer
ISBN: 9811323631
Category : Business & Economics
Languages : en
Pages : 183
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Book Description
This monograph presents potential remedies for some of the current environmental issues in developed countries in a theoretical or empirical manner with the interdisciplinary approaches of economics, statistics, and engineering. The book illustrates effective economic and environmental policies for environmental challenges and factors where corrective policies to date may have failed. The importance of this essential book has is related to the transition in the major concerns of the people or governments in developed countries shifting from economic growth to the stability of life and environmental preservation as their economies have matured. The environmental issues dealt with here include forest environment tax introduced as part of local taxes, air pollution reduction policies for mobile emission sources, introduction of renewable energies and power fuel cell technology, the mechanism of city agglomeration and dispersion, and measurement of environmental sustainability. In analytical methods, some research employs theoretical approaches such as the mathematical economic model or nonlinear dynamic model. Other analyses are implemented with empirical or statistical tools such as the long-run general equilibrium model, the input–output model, and the dynamic optimization model, among others.
Author: David Besanko
Publisher: John Wiley & Sons
ISBN: 1119554845
Category : Business & Economics
Languages : en
Pages : 864
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Book Description
Microeconomics is a classroom-tested resource for learning the key concepts, essential tools, and applications of microeconomics. This leading textbook enables students to recognize and analyze significant data, patterns, and trends in real markets through its integrated, student-friendly approach to the subject — providing practice problems, hands-on exercises, illustrative examples, and engaging applications that ground theory firmly in the real world. Each chapter, opening with a set of clearly defined learning goals based on the Bloom Taxonomy, features numerous Learning-by-Doing (LBD) problems, mathematical and graphical data, and varied problem sets focused on current events. Now in its sixth edition, the text offers extensive new and revised content throughout. All applications reflect current data and important new developments in the field of economics, including behavioral economics, randomized controlled trials (RCTs) in policy evaluation and design, and computational-based microeconomics. Updated chapter openers, designed to increase student interest, cover topics including the economic impacts of climate change, U.S. household income and spending, surge pricing by Uber and Lyft, the effect of immigration on wages, and advances in robotics, automation, artificial intelligence, and more.
Author: Luca Lambertini
Publisher: Cambridge University Press
ISBN: 1316730700
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
Game theory has revolutionised our understanding of industrial organisation and the traditional theory of the firm. Despite these advances, industrial economists have tended to rely on a restricted set of tools from game theory, focusing on static and repeated games to analyse firm structure and behaviour. Luca Lambertini, a leading expert on the application of differential game theory to economics, argues that many dynamic phenomena in industrial organisation (such as monopoly, oligopoly, advertising, R&D races) can be better understood and analysed through the use of differential games. After illustrating the basic elements of the theory, Lambertini guides the reader through the main models, spanning from optimal control problems describing the behaviour of a monopolist through to oligopoly games in which firms' strategies include prices, quantities and investments. This approach will be of great value to students and researchers in economics and those interested in advanced applications of game theory.
Author: Gian Italo Bischi
Publisher: Springer Science & Business Media
ISBN: 3642021069
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
This book presents the latest trends, methods and results in nonlinear dynamics with a special focus on oligopolies. It contains a number of technical appendices that summarize techniques of global dynamics not easily accessible elsewhere.
Author: Luca Lambertini
Publisher: Routledge
ISBN: 1317218256
Category : Business & Economics
Languages : en
Pages : 265
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Book Description
The separation between ownership and control has become common practice over the last century, in most medium and large firms across the world. Throughout the twentieth century, the theory of the firm and the theory of industrial organization developed parallel and complementary views on managerial firms. This book offers a comprehensive exposition of this debate. In its survey of strategic delegation in oligopoly games, An Economic Theory of Managerial Firms is able to offer a reinterpretation of a range of standard results in the light of the fact that the control of firms is generally not in the hand of its owners. The theoretical models are supported by a wealth of real-world examples, in order to provide a study of strategic delegation that is far more in-depth than has previously been found in the literature on industrial organization. In this volume, analysis is extended in several directions to cover applications concerning the role of: managerial firms in mixed market; collusion and mergers; divisionalization and vertical relations; technical progress; product differentiation; international trade; environmental issues; and the intertemporal growth of firms. This book is of great interest to those who study industrial economics, organizational studies and industrial studies.
Author: Andrew F. Daughety
Publisher: Cambridge University Press
ISBN: 0521361761
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
This volume focuses on the properties and uses of Cournot's model of competition among the few.
Author: Emmanuel Petrakis
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Emissions taxes, tradeable emission permits and voluntary compliance policies are becoming the instruments of choice in controlling environmental problems at the national and international level. This text uses research in order to appraise their efficiency in varying market conditions.
Author: Pierre von Mouche
Publisher: Springer
ISBN: 3319292544
Category : Business & Economics
Languages : en
Pages : 298
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Book Description
This state-of-the-art collection of papers on the theory of Cournotian competition focuses on two main subjects: oligopolistic Cournot competition and contests. The contributors present various applications of the Cournotian Equilibrium Theory, addressing topics such as equilibrium existence and uniqueness, equilibrium structure, dynamic processes, coalitional behavior and welfare. Special emphasis is placed on the aggregative nature of the games that are relevant to such theory. This contributed volume was written to celebrate the 80th birthday of Prof. Koji Okuguchi, a pioneer in oligopoly theory.
