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A pairwise random matching game is considered to identify the social environments that give rise to the social custom and fashion cycles. The game, played by Conformists and Nonconformists, can generate a variety of socially stable behavior patterns. In the path-dependence case, Conformists set...
Persistent link: https://www.econbiz.de/10005824430
This paper considers a simple pairwise random matching game in the society populated by two groups of agents: Conformists and Nonconformists. Depending on the relative frequencies of intergroup and intragroup matchings, the best response dynamics show three types of asymptotic behaviors: global...
Persistent link: https://www.econbiz.de/10005824462
The tomahawk bifurcation is used by Fujita et al. (1999) in a model with two regions to explain the formation of a core …-periphery urban pattern from an initial uniform distribution. Baldwin et al. (2003) show that the tomahawk bifurcation disappears when … bifurcation is the result of assumed exogenous model symmetry. We provide a general analysis in a regional model of the class of …
Persistent link: https://www.econbiz.de/10005835700
location of the bifurcation boundaries is of fundamental importance. Without knowledge of the location of such boundaries … such boundaries. If there are intersections between bifurcation boundaries and a confidence region, the resulting … structure. In initial research in this area, Barnett and Duzhak (2008) found a New Keynesian Hopf bifurcation boundary, with the …
Persistent link: https://www.econbiz.de/10005836692
’s findings are particularly important, if bifurcation boundaries cross the confidence regions surrounding parameter estimates in … policy-relevant bifurcation by searching the parameter space of the best known of the Euler equations macroeconometric models … some circles has moved to New Keynesian models. As a result, in this paper we explore bifurcation within the class of New …
Persistent link: https://www.econbiz.de/10005837359
bifurcation theory. We show this can give predictions of interesting dynamics, including stationary and spatio-temporal patterns. …
Persistent link: https://www.econbiz.de/10010599503
with high fitness. We characterize the stability and bifurcation properties of the underlying deterministic model via the …
Persistent link: https://www.econbiz.de/10011256308
Persistent link: https://www.econbiz.de/10008925910
The present study considers a unionised duopoly with the two most popular labour market institutions, i.e. efficient bargaining (EB) and right to manage (RTM) unions and analyses product market stability under quantity competition. By focusing on the role played by labour market institutions on...
Persistent link: https://www.econbiz.de/10009360279
This paper analyses the dynamics of a Cournot duopoly under cross-ownership participation when players have heterogeneous, i.e. bounded rational and naïve, expectations. We find that when the shareholder that owns firm also holds a percentage of firm , the parametric stability region of the...
Persistent link: https://www.econbiz.de/10009367980