Search results for "Comparative statics"
showing 3 items of 3 documents
Optimal Population Growth as an Endogenous Discounting Problem: The Ramsey Case
2018
International audience; This paper revisits the optimal population size problem in a continuous time Ramsey setting with costly child rearing and both intergenerational and intertemporal altruism. The social welfare functions considered range from the Millian to the Benthamite. When population growth is endogenized, the associated optimal control problem involves an endogenous effective discount rate depending on past and current population growth rates, which makes preferences intertemporally dependent. We tackle this problem by using an appropriate maximum principle. Then we study the stationary solutions (balanced growth paths) and show the existence of two admissible solutions except in…
A Closer Look at the Comparative Statics in Competitive Markets
2005
In this paper we revisit the dual approach to comparative statics in competitive markets, allowing for the essential results to arise from a comprehensive and unified framework. We study, for both the long-run and the short-run, the response of all the endogenous variables to price factor changes in a way that captures the outputprice effects arising from market-firm interactions. We show that it is necessary a richer characterization of the nature of factors with respect to output, connected with marginal cost and output demand elasticities, for completely determining such responses.
Stackelberg equilibrium with many leaders and followers. The case of zero fixed costs
2017
Abstract I study a version of the Stackelberg game with many identical firms in which leaders and followers use a continuous cost function with no fixed cost. Using lattice theoretical methods I provide a set of conditions that guarantee that the game has an equilibrium in pure strategies. With convex costs the model shows the same properties as a quasi-competitive Cournot model. The same happens with concave costs, but only when the number of followers is small. When this number is large the leaders preempt entry. I study the comparative statics and the limit behavior of the equilibrium and I show how the main determinants of market structure interact. More competition between the leaders …