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It is well known that if there are mild sector-specific externalities, then the steady state of the standard two-sector real business cycle model can become locally indeterminate and endogenous business cycles can arise. We show that this result is not robust to the introduction of standard...
Persistent link: https://www.econbiz.de/10005498060
We investigate in details a Trejos-Wright random matching model of money with a consumer take-it-or-leave-it offer and the individual money holding set {0,1,2}. First we show generic existence of three kinds of steady states: (1) pure-strategy full-support steady states, (2) mixed-strategy...
Persistent link: https://www.econbiz.de/10011111853
We investigate in details a Trejos-Wright random matching model of money with a consumer take-it-or-leave-it offer and the individual money holding set {0,1,2}. First we show generic existence of three kinds of steady states: (1) pure-strategy full-support steady states, (2) mixed-strategy...
Persistent link: https://www.econbiz.de/10011111966
The aim of the paper is to analyze the dynamic model of the Cournot duopoly game with bounded rationality associated to two firms. We consider the cost function of the first firm as nonlinear and for the second firm as linear. The players do not have a complete knowledge of the market and they...
Persistent link: https://www.econbiz.de/10011188979
This paper investigates a Trejos-Wright random matching model of money with a consumer take-it-or-leave-it offer and with individual money holdings in the set {0, 1, 2}. It is shown that three kinds of monetary steady state exist generically: (1) pure-strategy full-support steady states, (2)...
Persistent link: https://www.econbiz.de/10010883471
We present a study of time-delay effects on a two-actor conflict model based on nonlinear differential equations. The state of each actor depends on its own state in isolation, its previous state, its inertia to change, the positive or negative feedback and a time delay in the state of the other...
Persistent link: https://www.econbiz.de/10011059494
In this work we analyze the stability of an endoreversible Curzon–Ahlborn engine, using a van der Waals gas as working substance and the corresponding efficiency for such an engine. From the local stability analysis we find that a critical point of an almost linear system is stable. After...
Persistent link: https://www.econbiz.de/10011061056
This paper deals with a two-dimensional discrete time competition model. The corresponding twodimensional iterative map is represented in terms of its bifurcation diagram in the parameter plane. A number of bifurcation sequences for attractors and their basins are studied.
Persistent link: https://www.econbiz.de/10011008125
Persistent link: https://www.econbiz.de/10004999524
It is well known that if there are mild sector-specific externalities, then the steady state of the standard two-sector real business cycle model can become indeterminate and endogenous business cycles can arise. We show that this result is not robust to the introduction of standard...
Persistent link: https://www.econbiz.de/10005090967