دورية أكاديمية
Stackelberg-Nash Equilibrium and Perfect Competition in the Solow-Uzawa Growth Model
| العنوان: | Stackelberg-Nash Equilibrium and Perfect Competition in the Solow-Uzawa Growth Model |
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| المؤلفون: | Wei-Bin Zhang |
| المصدر: | Lecturas de Economía, Iss 96, Pp 315-343 (2022) |
| بيانات النشر: | Universidad de Antioquia, 2022. |
| سنة النشر: | 2022 |
| المجموعة: | LCC:Economic history and conditions LCC:Economics as a science |
| مصطلحات موضوعية: | stackelberg competition, leader and follower, perfect competition, capital accumulation, solow model, uzawa model, profit, Economic history and conditions, HC10-1085, Economics as a science, HB71-74 |
| الوصف: | This study introduces Stackelberg-Nash equilibrium to neoclassical growth theory. It attempts to make neoclassical economic growth theory more robust in modelling the complexity of market structures. The model is constructed within the framework of the Solow-Uzawa two-sector model. The economy is composed of two sectors. The final goods sector is the same as in the Solow one-sector growth model which is characterized by perfect competition. The consumer goods sector is the same as the consumer goods sector in the Uzawa model but is characterized by Stackelberg duopoly. We model household behavior with Zhang’s concept of disposable income and utility. The model endogenously determines profits of duopoly which are equally distributed among the homogeneous population. We build the model and then identify the existence of an equilibrium point through simulation. We conduct comparative static analyses of some parameters. We also compare the economic performance of the traditional Uzawa model and the model with the Stackelberg-Nash equilibrium. We conclude that the imperfect competition increases national output, national wealth, and utility level in comparison to perfect competition. |
| نوع الوثيقة: | article |
| وصف الملف: | electronic resource |
| اللغة: | English Spanish; Castilian |
| تدمد: | 0120-2596 2323-0622 |
| العلاقة: | https://revistas.udea.edu.co/index.php/lecturasdeeconomia/article/view/342588Test; https://doaj.org/toc/0120-2596Test; https://doaj.org/toc/2323-0622Test |
| DOI: | 10.17533/udea.le.n96a342588 |
| الوصول الحر: | https://doaj.org/article/0ff0be256d054cd481aa6a02a258ea67Test |
| رقم الانضمام: | edsdoj.0ff0be256d054cd481aa6a02a258ea67 |
| قاعدة البيانات: | Directory of Open Access Journals |
Full Text Finder | تدمد: | 01202596 23230622 |
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| DOI: | 10.17533/udea.le.n96a342588 |