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On the feedback solution of a differential oligopoly game with capacity adjustment

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  • D. Dragone
  • L. Lambertini
  • A. Palestini

Abstract

We propose a simple method for characterising analytically the feedback solution of oligopoly games with capital accumulation à la Solow-Swan. As a result, it becomes possible to contrast the feedback equilibrium against the corresponding one generated by open-loop information. Our method accomodates extensions of the stripped down oligopoly model in several directions. As an example, we expand the setup to include environmental effects and Pigouvian taxation.

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number wp741.

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Date of creation: Mar 2011
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Handle: RePEc:bol:bodewp:wp741

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  1. G. Calzolari & L. Lambertini, 2001. "Export Restraints in a Model of Trade with Capital Accumulation," Working Papers, Dipartimento Scienze Economiche, Universita' di Bologna 420, Dipartimento Scienze Economiche, Universita' di Bologna.
  2. Giacomo Calzolari & Luca Lambertini, 2006. "Tariffs vs Quotas in a Model of Trade with Capital Accumulation," Review of International Economics, Wiley Blackwell, Wiley Blackwell, vol. 14(4), pages 632-644, 09.
  3. Benchekroun, Hassan & van Long, Ngo, 1998. "Efficiency inducing taxation for polluting oligopolists," Journal of Public Economics, Elsevier, Elsevier, vol. 70(2), pages 325-342, November.
  4. Driskill, Robert A. & McCafferty, Stephen, 1989. "Dynamic duopoly with adjustment costs: A differential game approach," Journal of Economic Theory, Elsevier, Elsevier, vol. 49(2), pages 324-338, December.
  5. Dockner, Engelbert J, 1992. "A Dynamic Theory of Conjectural Variations," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 40(4), pages 377-95, December.
  6. R. Cellini & L. Lambertini, 2005. "Weak and Strong Time Consistency in Differential Oligopoly Games with Capital Accumulation," Working Papers, Dipartimento Scienze Economiche, Universita' di Bologna 544, Dipartimento Scienze Economiche, Universita' di Bologna.
  7. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 93(3), pages 488-511, June.
  8. Downing, Paul B. & White, Lawrence J., 1986. "Innovation in pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 13(1), pages 18-29, March.
  9. Cellini, Roberto & Lambertini, Luca, 1998. "A Dynamic Model of Differentiated Oligopoly with Capital Accumulation," Journal of Economic Theory, Elsevier, Elsevier, vol. 83(1), pages 145-155, November.
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