Capital accumulation and income distribution as the outcome of a dynamic gain

Article Abstract:

A study modeled the phenomena determined by the outcome of an infinite horizon game between a representative capitalist and a representative worker to analyze income distribution and capital accumulation in economies that are not necessarily competitive. The strategies of the players are wages, employment and levels of capital. The main point of the study is to illustrate the usefulness of dynamic game theory as a tool to model capital accumulation and income distribution.

Econometrics & Model Building, Models, Usage, Econometrics, Learning models (Stochastic processes), Capital formation, Income distribution, Business models, Stochastic models, Games of strategy (Mathematics)

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On the computability of Nash equilibria

Article Abstract:

Determination of Nash equilibria in a certain class game remains difficult due to the absence of an algorithm that will determine such existence. The non-existence of an algorithm, meanwhile, does not necessarily mean setting aside of Nash equilibria since there are classes of games where Nash equilibria can be computed. Specification of hierarchies and standards of behavior change are, therefore, needed for better understanding of a solution concept.

Game, Toy, and Children's Vehicle Manufacturing, Games, toys, and children's vehicles, Games & Puzzles, Analysis, Computational complexity, Computational complexity (Machine theory), Game theory

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