Semi-Stationary Equilibrium in Leader-Follower Games
AbstractWe show that in some leader-follower games, a steady-state equilibrium in quantities may exist only with non-stationary shadow prices. We call this type of equilibrium a semi-stationary steady state. Conclusions that are drawn on the assumption that a steady-state equilibrium has stationary shadow prices may turn out to be incorrect, because such a fully stationary steady state may not exist. Nous démontrons que dans certains jeux de leader-followers, un état stationnaire n'existe qu'avec des prix fictifs non-stationnaires. Ce type d'équilibre est nommé équilibre semi-stationnaire. Les conclusions basées sur l'hypothèse que les prix fictifs sont stationnaires peuvent s'avérer fausses.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by CIRANO in its series CIRANO Working Papers with number 2000s-08.
Date of creation: 01 Feb 2000
Date of revision:
Contact details of provider:
Postal: 2020 rue University, 25e étage, Montréal, Quéc, H3A 2A5
Phone: (514) 985-4000
Fax: (514) 985-4039
Web page: http://www.cirano.qc.ca/
More information through EDIRC
Leader-follower; dynamic games; Leader-follower; jeux dynamiques;
Find related papers by JEL classification:
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Léonard,Daniel & Long,Ngo van, 1992.
"Optimal Control Theory and Static Optimization in Economics,"
Cambridge University Press, number 9780521337465.
- Léonard,Daniel & Long,Ngo van, 1992. "Optimal Control Theory and Static Optimization in Economics," Cambridge Books, Cambridge University Press, number 9780521331586.
- Kemp, Murray C & Long, Ngo Van & Shimomura, Koji, 1993. "Cyclical and Noncyclical Redistributive Taxation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(2), pages 415-29, May.
- Judd, Kenneth L., 1985.
"Redistributive taxation in a simple perfect foresight model,"
Journal of Public Economics,
Elsevier, vol. 28(1), pages 59-83, October.
- Kenneth L. Judd, 1982. "Redistributive Taxation in a Simple Perfect Foresight Model," Discussion Papers 572, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Sanjay Banerji & Ngo Van Long, 2000. "Wealth Distribution, Moral Hazard, and Entrepreneurship," CIRANO Working Papers 2000s-01, CIRANO.
- Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329.
- Marcel Boyer, 1999. "Les Expos, l'OSM, les universités, les hôpitaux : Le coût d'un déficit de 400 000 emplois au Québec = Expos, Montreal Symphony Orchestra, Universities, Hospitals: The Cost of a 400,000-Job Shortf," CIRANO Papers 99c-01, CIRANO.
- Danyang Xie, 2002.
"On Time Inconsistency: A Technical Issue in Stackelberg Differential Games,"
- Xie, Danyang, 1997. "On Time Inconsistency: A Technical Issue in Stackelberg Differential Games," Journal of Economic Theory, Elsevier, vol. 76(2), pages 412-430, October.
- Karp, Larry & Lee, In Ho, 2003.
Journal of Economic Theory,
Elsevier, vol. 112(2), pages 353-364, October.
- Karp, Larry S. & Lee, In Ho, 2000. "Time-consistent policies," CUDARE Working Paper Series 919, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
- Karp, Larry & Lee, In Ho, 2000. "Time-Consistent Policies," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt94q3m5mq, Department of Agricultural & Resource Economics, UC Berkeley.
- Chakraborty, Bidisha & Gupta, Manash Ranjan, 2009. "Human capital, inequality, endogenous growth and educational subsidy: A theoretical analysis," Research in Economics, Elsevier, vol. 63(2), pages 77-90, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Webmaster).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.