IDEAS home Printed from https://ideas.repec.org/a/spr/annopr/v88y1999i0p291-30710.1023-a1018990615767.html
   My bibliography  Save this article

The dynamics of the strategic capital accumulation

Author

Listed:
  • C. Figuières
  • P. Gardères
  • P. Michel
  • F. Rychen

Abstract

In a two‐player capital accumulation differential game with reversible investment, wepropose a simplifying method to calculate the open‐loop Nash equilibrium and the centralizedsolution. Then we relate the two outcomes through their dynamic properties, namelythe pattern and the rate of convergence. It is demonstrated that the two outcomes share theproperty that a stock will have a non‐monotonic trajectory as a medium-run consequence ofthe differences in the initial conditions and of the heterogeneity of the agents. On the otherhand, the solutions differ in the speed of convergence of the aggregated variables, which isgreater under the centralized behavior. Copyright Kluwer Academic Publishers 1999

Suggested Citation

  • C. Figuières & P. Gardères & P. Michel & F. Rychen, 1999. "The dynamics of the strategic capital accumulation," Annals of Operations Research, Springer, vol. 88(0), pages 291-307, January.
    • Handle: RePEc:spr:annopr:v:88:y:1999:i:0:p:291-307:10.1023/a:1018990615767
    DOI: 10.1023/A:1018990615767
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1023/A:1018990615767
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1023/A:1018990615767?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Figuières, Charles & Gardères, Philippe & Rychen, Frédéric, 2002. "Infrastructures publiques et politiques de développement décentralisées," L'Actualité Economique, Société Canadienne de Science Economique, vol. 78(4), pages 539-570, Décembre.

    More about this item

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:annopr:v:88:y:1999:i:0:p:291-307:10.1023/a:1018990615767. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.