Nash equilibria in a differential game of economic growth

Citation
C. Gonzalez-alcon et al., Nash equilibria in a differential game of economic growth, J OPTIM TH, 103(2), 1999, pp. 337-357
Citations number
16
Categorie Soggetti
Engineering Mathematics
Journal title
JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS
ISSN journal
00223239 → ACNP
Volume
103
Issue
2
Year of publication
1999
Pages
337 - 357
Database
ISI
SICI code
0022-3239(199911)103:2<337:NEIADG>2.0.ZU;2-S
Abstract
The present work studies a dynamic game of economic growth with two phases or periods. In the first phase, a political process exists where an institu tional framework is fixed, that is, limits to the workers share in the nati onal income, minimum limits of consumption by capitalists, and discretional ity in investment are specified. This framework conditions the actions of t he players (capitalists and workers). In the second phase, the Nash equilib ria of the game are calculated. Lastly, the sensitivity of the results with respect to the institutional parameters is analyzed for a given scenario.