Fictitious play in 2 x n games
Article Abstract:
The study presents a simple geometric proof for the continuous-time process, and also extend the result to discrete-time fictitious play. Every discrete-time fictitious play process approaches equilibrium in nondegenerate 2x2 games, and that every continuous-time fictitious play process approaches equilibrium in nondegenerate 2x2 and 2x3 games.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2005
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Vintage capital and the dynamics of the AK model
Article Abstract:
The equilibrium dynamics of an AK-type endogenous model with vintage capital is analyzed. Further to characterize the optimal solutions of the model the study developed analytical and numerical methods that should be interest for the general resolution of endogenous growth models with vintage capital.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2005
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