What does a dynamic oligopoly maximize? The continuous time Markov case
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arXiv
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| Format: | Preprint |
| Publié: |
2024
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| _version_ | 1866913452565463040 |
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| author | Rincón-Zapatero, Juan Pablo |
| author_facet | Rincón-Zapatero, Juan Pablo |
| contents | We analyze the question of whether the outcome of an oligopoly exploiting a nonrenewable resource can be replicated by a related monopoly, within the framework of continuous time and Markov Perfect Nash Equilibrium. We establish necessary and sufficient conditions and find explicit solutions in some cases. Also, very simple models with externalities are shown which Nash equilibrium cannot be replicated in a monopoly. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2407_20810 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | What does a dynamic oligopoly maximize? The continuous time Markov case Rincón-Zapatero, Juan Pablo Theoretical Economics Optimization and Control We analyze the question of whether the outcome of an oligopoly exploiting a nonrenewable resource can be replicated by a related monopoly, within the framework of continuous time and Markov Perfect Nash Equilibrium. We establish necessary and sufficient conditions and find explicit solutions in some cases. Also, very simple models with externalities are shown which Nash equilibrium cannot be replicated in a monopoly. |
| title | What does a dynamic oligopoly maximize? The continuous time Markov case |
| topic | Theoretical Economics Optimization and Control |
| url | https://arxiv.org/abs/2407.20810 |