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...

In this article we compare the dynamics and long-run outcomes of an overlapping generations closed economy under exogenous and endogenous fertility. Individuals have myopic foresight, and pay-as-you-go (PAYG) public pensions exist. Although large PAYG transfers may cause endogenous fluctuations...

In this paper we study the effects of an increasing longevity on the balanced pay-as-you-go pension budget in the basic overlapping generations model of growth (Diamond, 1965). It is shown that, when the capital's share in production is sufficiently high, the higher longevity the higher pension...

The present study considers a unionised (nonlinear) duopoly with two different labour market institutions, i.e. efficient bargaining (EB) and right to manage (RTM), to analyse product market stability under quantity competition with trade unions. We show that when the preference of unions...

We study the local stability properties of a nonlinear Bertrand duopoly with vertical differentiation and heterogeneous players under the hypotheses of both covered and uncovered markets. In the former case, the unique pure strategy Nash equilibrium can undergo a flip bifurcation when the extent...

This study analyses the dynamics of an economy with overlapping generations, endogenous population (fertility and adult mortality), logarithmic preferences and Cobb–Douglas technology. We show that the public provision of health investments and the existence of a private system of old-age...