Dynamic equilibrium model of durable goods monopoly

Article Abstract:

A simple dynamic general equilibrium model of durable goods monopoly was formulated under a discrete time framework. The model proved the validity of the amended Coase Conjecture, which claims the efficiency of monopolists under a proper tax-subsidy policy, even in situations where marginal cost is rising. The validity of the conjecture holds in given situations provided that every discrete model period is suffieciently short.

Research, Externalities (Economics), Monopolistic competition, Coase theorem

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Some results on the Markov equilibria of a class of homogenous differential games

Article Abstract:

A set of differential games with transition dynamics and constraints that are homogenous of degree one were analyzed to overcome its limitations. It was shown that linear homogenous are the most effective approaches to linear homogenous Markov strategies. Such approaches become appropriate only when the objective function's integrand is homogenous of a specified degree.

Research and Development in the Physical, Engineering, and Life Sciences, Mathematics, Differential games, Markov processes, Linear systems

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Relative wealth, status-seeking, and catching-up

Article Abstract:

A two-class model is discussed in which sufficient conditions for the final distribution of wealth to be independent of the initial distribution and conditions for saddle-point stability are given. This model focuses mainly on status-seeking out of the other factors like distribution of abilities, social prejudice, and racial discrimination.

United States, Forecasts, trends, outlooks, Forecasts and trends, Economic conditions, Market trend/market analysis, Distribution (Economics), Wealth, Distribution of wealth

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