المؤلفون: Wei-Bin Zhang

المصدر: Lecturas de Economía, Iss 96, Pp 315-343 (2022)

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.

وصف الملف: electronic resource

العلاقة: https://revistas.udea.edu.co/index.php/lecturasdeeconomia/article/view/342588Test; https://doaj.org/toc/0120-2596Test; https://doaj.org/toc/2323-0622Test

الوصول الحر: https://doaj.org/article/0ff0be256d054cd481aa6a02a258ea67Test

المؤلفون: Ivan Burtnyak, Anna Malytska

المصدر: Journal of Vasyl Stefanyk Precarpathian National University, Vol 8, Iss 3, Pp 35-42 (2021)

مصطلحات موضوعية: bank, financial company, financial market, perfect competition, production function, monitoring, General Works

الوصف: The analysis of models of activity of banking structures in the conditions of perfect and imperfect competition is carried out. Production functions for financial companies are considered. Models of the bank's work as an institution of delegated monitoring are described. Models of dynamics of financial resources are analyzed, allow to describe processes of evolution of own capital of bank depending on dynamics of the involved resources and the policy of accumulation realized by it. The considered models and methods are based on the definition of a bank (a financial company) as some abstract object, which is characterized by input and output parameters, as well as the function that connects them. This approach to some extent allows adapting traditional models of research of industrial enterprises and organizations to the analysis of the activities of banking structures. Therefore, one of the main tasks is to optimize internal functioning. Under such conditions, it is especially important to consider the bank as a holistic complex dynamic system operating in an unstable transition economy and the use of economic and mathematical methods and models to study the processes taking place in the bank, assess its effectiveness, identify areas and ways to improve management banking activities. Based on the analysis of the main economic and mathematical models of behavior of financial companies in a monopolistic market, we can conclude that each model characterizes a certain aspect of financial market development by the situation. Production functions for a bank (financial firm) are built, where the problem of classification of these factors into input and output is significant. A wide class of economic and mathematical models is considered, in which the activity of financial and banking institutions is treated as financial intermediaries. The theory of delegated monitoring is generalized, which in the general case assumes that in conditions when there is an effect of the growth of income from scale, individual lenders prefer to delegate functions of control (monitoring) of the behavior of entrepreneurs in whose projects they have invested to special intermediary firms. banks. The analysis of the development of the banking sector of Ukraine showed that a further gradual slowdown in its pace is expected due to changes in conditions in global financial markets and market saturation.

وصف الملف: electronic resource

العلاقة: https://journals.pnu.edu.ua/index.php/jpnu/article/view/5441Test; https://doaj.org/toc/2311-0155Test; https://doaj.org/toc/2413-2349Test

الوصول الحر: https://doaj.org/article/6008289eb591454db0e6ce3fa1a9c90cTest

المؤلفون: Ni’matul Fitria Mukaromah, Temmy Wijaya

المصدر: Profit: Jurnal Kajian Ekonomi dan Perbankan Syariah, Vol 4, Iss 2, Pp 1-16 (2020)

مصطلحات موضوعية: perfect competition market, imperfect competition market, market mechanism, Finance, HG1-9999

الوصف: Conceptually, this research describes the structure between the perfect competition market and the imperfect competition market which is also seen from an Islamic perspective, which of course also talks about the structure of the perfect competition market and imperfect competition market, as well as several things about this. Market, which incidentally is a meeting place for buyers and sellers to carry out buying and selling transactions of goods and services, as well as a place for the community to meet the needs and drivers of the community's economy. There are various kinds of markets, for a broad picture the market is divided into perfect competition markets, and imperfect competitive markets in which there are still divisions such as monopolistic, monopolistic, and oligopolistic markets. A perfectly competitive market in which there are many sellers and buyers of similar goods. Meanwhile, the imperfect competitive market contains only one seller or a few sellers. In this report, some information is generated regarding the two types of markets, such as the meaning, differences in the perfect competition market and imperfect competition market, the advantages and disadvantages of perfect and imperfect competition markets, market mechanisms, etc. The data collection method used in this study was to collect data from related web literature studies

وصف الملف: electronic resource

العلاقة: https://ejournal.unuja.ac.id/index.php/profit/article/view/1621Test; https://doaj.org/toc/2685-4309Test; https://doaj.org/toc/2597-9434Test

الوصول الحر: https://doaj.org/article/4056277b4f8a49d8ad72c0e5bd95ed80Test

المؤلفون: Qingyuan Han, Steve Keen

المصدر: Heliyon, Vol 7, Iss 11, Pp e08355- (2021)

مصطلحات موضوعية: Aggregate excess demand, Prediction of market directions, Market maker inventory, Walrasian general equilibrium, Utility maximization, Perfect competition, Science (General), Q1-390, Social sciences (General), H1-99

الوصف: The rational investor behavior and news triggered price change assumed by the Efficient Market Hypothesis (EMH) could not explain most of asset price variances, suggesting the need for an alternative theory. The Behavioral Finance Theory (BFT) advocates those economic judgments and decisions in markets are often irrational because of systematic and predictable psychological bias. However, due to the lack of measurable investment behaviors, proponents of the efficient market hypothesis argue that irrational behavior could not be reliably identified and predicted. Here we show that the price-takers behavior gauged by the normalized excess demand (NED) can be measured and the results explain most of the variances of SP500 daily returns over eight years of available data, the remaining variances are due to price-makers behavior, an influence abstracted out by the Walrasian general equilibrium theory. The interactions between behaviors of price-takers and price-makers drive market price fluctuations. For short-term prediction, we demonstrate that detected market makers' inventory positions often lead to intraday and daily market reversals. For long-term forecasting, feedback analyses of NED and SP500 data reveal signals of looming plunges and recovery processes in 2000, 2008, and 2020 market crises.

وصف الملف: electronic resource

العلاقة: http://www.sciencedirect.com/science/article/pii/S2405844021024580Test; https://doaj.org/toc/2405-8440Test

الوصول الحر: https://doaj.org/article/7ae917f8a7e2444389e66425b95a5961Test

المؤلفون: Wei-Bin ZHANG

المصدر: USV Annals of Economics and Public Administration, Vol 20, Iss 31, Pp 7-25 (2020)

مصطلحات موضوعية: solow model, perfect competition, dixit-stiglitz model, grossman and helpman model, monopolistic competition, wealth accumulation, profit distribution, general economic equilibrium., Business, HF5001-6182

الوصف: This study constructs a growth model by integrating the three basic models in neoclassical growth theory with perfect competition and general equilibrium theory with monopolistic competition. The economy is composed of three sectors – the final good sector as in Solow’s one sector growth model, the middle goods sector for final good as Grossman and Helpman’s intermediates sector (which supplies intermediate inputs for the final good sector), and the middle goods sector for consumption as Dixit and Stiglitz’s intermediates sector (which supplies goods for consumption). Our model is different from the Solow model in that we model the household behavior with the utility function and disposable income proposed by Zhang. We deviate from the Dixit-Stiglitz model and the Grossman- Helpman model in that we distribute the profits of firms in monopolistic competition to households. We build and then simulate the model. We demonstrate the existence of a unique stable equilibrium point and plot the motion of the economy. We examine the effects of exogenous changes in some parameters. The comparative dynamic analysis analyzes the effects of the exogenous changes on transitory process and long-term equilibrium structure.

وصف الملف: electronic resource

العلاقة: http://annals.seap.usv.ro/index.php/annals/article/view/1216/1000Test; https://doaj.org/toc/2285-3332Test; https://doaj.org/toc/2344-3847Test

الوصول الحر: https://doaj.org/article/b019188996c241e48f4b832a2c655501Test

المؤلفون: Gabriel-Andrei DONICI, Paula-Elena Diacon

المصدر: CES Working Papers, Vol XI, Iss 4, Pp 320-331 (2020)

مصطلحات موضوعية: market transparency, pure and perfect competition, market barriers, the app economy, market vehicle, Political institutions and public administration (General), JF20-2112

الوصف: The smartphone apps have revolutionized the markets of goods and services more than other recent technologies. Although they modified the market paradigm in sectors like accommodation, transport, or “gigs”, the changes in the way the economics systems function are still widely neglected by the literature. We intend to analyze some of these changes and their impact, which in economic history could only be compared with trade liberalization. The smartphone apps increase market transparency, reduce or eliminate the entrance barriers and expand the markets to unprecedented levels. Although we limit our observations to a few cases, the apps have the potential to revolutionize any given market. For the first time since the economy has become a recognized science, market transparency is more than a utopian goal. The apps are facilitating instant information transfer between suppliers and customers. What is clear is that the increase of market transparency is not limited to the sharing economy, but it can be found in all the segments

وصف الملف: electronic resource

العلاقة: http://ceswp.uaic.ro/articles/CESWP2019_XI4_DON.pdfTest; https://doaj.org/toc/2067-7693Test

الوصول الحر: https://doaj.org/article/472324c88894445985747ab698978452Test

المؤلفون: Gabriel-Andrei DONICI, Paula-Elena DIACON

المصدر: CES Working Papers, Vol 11, Iss 4, Pp 320-331 (2020)

مصطلحات موضوعية: market transparency, pure and perfect competition, market barriers, the app economy, Political institutions and public administration (General), JF20-2112

الوصف: The smartphone apps have revolutionized the markets of goods and services more than other recent technologies. Although they modified the market paradigm in sectors like accommodation, transport, or “gigs”, the changes in the way the economics systems function are still widely neglected by the literature. We intend to analyze some of these changes and their impact, which in economic history could only be compared with trade liberalization. The smartphone apps increase market transparency, reduce or eliminate the entrance barriers and expand the markets to unprecedented levels. Although we limit our observations to a few cases, the apps have the potential to revolutionize any given market. For the first time since the economy has become a recognized science, market transparency is more than a utopian goal. The apps are facilitating instant information transfer between suppliers and customers. What is clear is that the increase of market transparency is not limited to the sharing economy, but it can be found in all the segments.

وصف الملف: electronic resource

العلاقة: http://www.ceswp.uaic.ro/articles/CESWP2019_XI4_DON.pdfTest; https://doaj.org/toc/2067-7693Test

الوصول الحر: https://doaj.org/article/acc943acf24a47cfbb8977328777656bTest

المؤلفون: Nendissa D.R., Kapioru C., Bernadina L.

المصدر: Russian Journal of Agricultural and Socio-Economic Sciences, Vol 95, Iss 11, Pp 183-189 (2019)

مصطلحات موضوعية: cattle, market structure, perfect competition, Agriculture (General), S1-972

الوصف: Knowing the cattle market structure will provide an explanation of competition in the market. This study was to determine the market structure of the Bali cattle, involving 200 farmers and 14 inter-island traders. The market structure is known to measure market concentration by measuring Concentration Ratio (CR4), Hirschman-Herfindahl Index (HHI) and Rosenbluth index (IR), look at the barriers to entry, market knowledge and product differentiation. The results of the analysis show that the cattle market at the research location from the breeder's side is in a perfectly competitive sales market dealing with oligopsonistic inter-island traders. In this situation the oligopsonists act as price makers and farmers are only price takers. The price takers will accept any price offered because it is in a weak position and the income earned is low. Breeding for producers is a way of life and part with culture, so low income does not prevent them from continuing to work as farmers. To overcome this problem farmers needed to join cooperatives to be able to work together to overcome difficulties. The government needs to develop the auction market so as to increase the bargaining power of farmers in selling cattle.

وصف الملف: electronic resource

العلاقة: https://rjoas.com/issue-2019-11/article_25.pdfTest; https://doaj.org/toc/2226-1184Test

الوصول الحر: https://doaj.org/article/8f9b9d7e12164280a04d56ebdfd4625eTest

المؤلفون: Stephan Unger

المصدر: Athens Journal of Business & Economics, Vol 5, Iss 4, Pp 287-300 (2019)

مصطلحات موضوعية: entropy, social welfare, deadweight loss, perfect competition, allocative efficiency, taxes, Regional economics. Space in economics, HT388

الوصف: This article shows that the entropy in a free market is maximized under the allocative efficiency condition. In contrast to that, it is shown that any pre-determined allocation, as it is the case with the collection and distribution of taxes, exhibits a higher probability of minimizing the entropy in the system, where the loss in entropy corresponds to the deadweight loss caused by the excess burden of taxation. The implications are that any chaotic system, or exchange economy, converges to an optimal structure of wealth distribution which maximizes social welfare, in contrast to a randomly, pre-determined distribution of wealth.

وصف الملف: electronic resource

العلاقة: https://www.athensjournals.gr/business/2019-5-4-2-Unger.pdfTest; https://doaj.org/toc/2241-794XTest

الوصول الحر: https://doaj.org/article/f6a875993b9d4f8a83c54c4281733dbdTest

المؤلفون: Wei-Bin Zhang

المصدر: Revista CEA, Vol 7, Iss 15, Pp e1801-e1801 (2021)

مصطلحات موضوعية: cournot game, perfect competition, nash equilibrium, solow model, uzawa model, Commerce, HF1-6182, Finance, HG1-9999

الوصف: The purpose of this study is to contribute to economic growth theory by introducing Cournot competition into the Solow-Uzawa neoclassical growth model with Zhang’s concept of disposable income and utility function. The Solow-Uzawa two-sector growth model deals with economic growth with two sectors with all the markets perfectly competitive. The final goods sector in this study is the same as that in the Solow model with perfect competition. The consumer goods sector is composed of two firms and characterized by Cournot competition. All the input factors are traded in perfectly competitive markets. The duopoly’s product is solely consumed by consumers. Perfectly competitive firms earn zero profit, while duopolists earn positive profits. This study assumes that the population shares the profits equally. First, we built the dynamic model. Afterward, we found a computational procedure to describe the time-dependent path of the economy and conducted comparative dynamic analyses of some parameters. Finally, we compared the economic performances of the model with Cournot competition and the perfectly competitive model.

وصف الملف: electronic resource

العلاقة: https://revistas.itm.edu.co/index.php/revista-cea/article/view/1801Test; https://doaj.org/toc/2390-0725Test; https://doaj.org/toc/2422-3182Test

الوصول الحر: https://doaj.org/article/a39bf5bfae6a47baab6b2425147e4987Test