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Oligopoly model with recurrent renewal of capital revisited
Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för regionalvetenskap (CERUM).
2015 (Engelska)Ingår i: Mathematics and Computers in Simulation, ISSN 0378-4754, E-ISSN 1872-7166, Vol. 108, s. 119-128Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

The aim of the present paper is to investigate an oligopoly market, modelled by using CES production function in combination with the isoelastic demand function. It is supposed that the competitors act not under constant, but eventually decaying returns, and thus, from time to time they need to renew their capital equipment, choosing its optimal amount according to the current market situation. It is shown that the asymptotic trajectories depend essentially on the value of the global capital durability, and are also sensitive to the initial choice of individual inactivity times. In particular, the firms may merge into different groups renewing their capitals simultaneously, which lead to distinct dynamical patterns. It is also studied how the capital wearing out rate influences the system behaviour.

Ort, förlag, år, upplaga, sidor
2015. Vol. 108, s. 119-128
Nyckelord [en]
Oligopoly market, Isoelastic demand function, Non-constant returns
Nationell ämneskategori
Företagsekonomi
Identifikatorer
URN: urn:nbn:se:umu:diva-99352DOI: 10.1016/j.matcom.2013.09.007ISI: 000347021900008OAI: oai:DiVA.org:umu-99352DiVA, id: diva2:793907
Konferens
International Workshop on Dynamic Models in Economics and Finance (MDEF), SEP 20-22, 2012, Urbino, ITALY
Tillgänglig från: 2015-03-09 Skapad: 2015-02-07 Senast uppdaterad: 2018-06-07Bibliografiskt granskad

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