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This paper compares the performance of approximately optimal current period analytical solution methods for models of renewable resource management. Focus is placed on linear-quadratic analytical dynamic programming and on steady-state based current period decision rules based on Taylor's series...
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A generalized method for analyzing stability potential in discrete time renewable resource models subject to market-driven harvest is discussed. Two means by which harvest activity can influence dynamical properties of renewable resource models are identified: the "growth factor" and the "market...
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This paper explores the character of long-run equilibrium in an oligopoly model with Cobb-Douglas production and demand. The model is a Bertrand type model in that firms choose production, but the product may be differentiated as well as homogeneous in nature. The long run equilibrium explored...
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This paper explores the character of long-run equilibrium in an oligopoly model with Cobb-Douglas production and demand. The model is a Cournot type model in that firms choose production, but the product may be differentiated as well as homogeneous in nature. The long run equilibrium explored...
Persistent link: https://www.econbiz.de/10014206395
The first part of the paper reviews an analytical method for inverting demand in price competition to find the corresponding inverse demand under quantity competition. The method yields a simple function relating demand elasticities with inverse demand elasticities. The second part of the paper...
Persistent link: https://www.econbiz.de/10012720421
This paper explores the impact on firm-level demands under quantity competition tied to changes in the number of firms, product differentiation, and product group elasticity under price competition. It appears this deserves more attention. Some simple numerical analysis shows that inverse...
Persistent link: https://www.econbiz.de/10012723568