IDEAS home Printed from https://ideas.repec.org/a/spr/joptap/v119y2003i2d10.1023_bjota.0000005453.96575.2a.html
   My bibliography  Save this article

Direct Method Comparing Efficient and Nonefficient Payoffs in Differential Games

Author

Listed:
  • J.P. Rincón-Zapatero

    (Universidad de Valladolid)

  • G. Martín-Herrán

    (Universidad de Valladolid)

Abstract

In this note, we present a method that allows us to decide when a Markov-perfect Nash equilibrium is not Pareto optimum, without the explicit knowledge of the respective solutions. For that purpose, we establish a sufficient condition in terms of an algebraic inequality where the gradient of the value functions of the cooperative and noncooperative games as well as the state and control variables are involved.

Suggested Citation

  • J.P. Rincón-Zapatero & G. Martín-Herrán, 2003. "Direct Method Comparing Efficient and Nonefficient Payoffs in Differential Games," Journal of Optimization Theory and Applications, Springer, vol. 119(2), pages 395-405, November.
    • Handle: RePEc:spr:joptap:v:119:y:2003:i:2:d:10.1023_b:jota.0000005453.96575.2a
    DOI: 10.1023/B:JOTA.0000005453.96575.2a
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1023/B:JOTA.0000005453.96575.2a
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1023/B:JOTA.0000005453.96575.2a?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hoel, Michael, 1978. "Distribution and Growth as a Differential Game between Workers and Capitalists," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(2), pages 335-350, June.
    2. Lancaster, Kelvin, 1973. "The Dynamic Inefficiency of Capitalism," Journal of Political Economy, University of Chicago Press, vol. 81(5), pages 1092-1109, Sept.-Oct.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Julio Huato, 2023. "Inequality and Growth: A Two-Player Dynamic Game with Production and Appropriation," Papers 2304.01855, arXiv.org.
    2. James Robert E. Sampi Bravo, 2012. "Economic Growth And Redistribution: Evidence From Dynamic Games," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 6(2), pages 23-40.
    3. Krawczyk, Jacek B. & Shimomura, Koji, 2003. "Why countries with the same technology and preferences can have different growth rates," Journal of Economic Dynamics and Control, Elsevier, vol. 27(10), pages 1899-1916, August.
    4. C. González-Alcón & J. Sicilia & J. A. Álvarez, 1999. "Nash Equilibria in a Differential Game of Economic Growth," Journal of Optimization Theory and Applications, Springer, vol. 103(2), pages 337-357, November.
    5. Elkhan Richard Sadik-Zada, 2020. "Distributional Bargaining and the Speed of Structural Change in the Petroleum Exporting Labor Surplus Economies," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 32(1), pages 51-98, January.
    6. Dai, Darong, 2012. "Comparative Studies on Cooperative Stochastic Differential Game and Dynamic Sequential Game of Economic Maturity," MPRA Paper 44339, University Library of Munich, Germany.
    7. Enrico Marchetti, 1999. "Dynamic Games and Growth Cycles in Unionised Economies," Working Papers in Public Economics 32, University of Rome La Sapienza, Department of Economics and Law.
    8. Sadik-Zada, Elkhan Richard, 2023. "Resource rents, savings behavior, and scenarios of economic development," Resources Policy, Elsevier, vol. 81(C).
    9. Aronsson, Thomas, 2004. "Social Accounting and the Public Sector," Umeå Economic Studies 644, Umeå University, Department of Economics.
    10. Elkhan Richard Sadik-Zada, 2021. "An Ode to ODA against all Odds? A Novel Game-Theoretical and Empirical Reappraisal of the Terrorism-Aid Nexus," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 49(2), pages 221-240, June.
    11. Kim Hawtrey, 1990. "Dynamic Behaviour of a Unionized Solow‐Swan Economy," The Economic Record, The Economic Society of Australia, vol. 66(2), pages 81-92, June.
    12. Koji Akimoto, 2014. "A Fundamental Cause of Economic Crisis―A Macro-economic Game between the Real Economic Sector and Monetary Sector," International Journal of Economic Sciences, Prague University of Economics and Business, vol. 2014(4), pages 01-37.
    13. Pierre Cahuc & Anne Bauer, 1989. "Conflits, inefficience du capitalisme et politique économique," Revue Économique, Programme National Persée, vol. 40(4), pages 621-648.
    14. T. Ramamohan Rao, 1992. "Efficiency and equity in dynamic principal-agent problems," Journal of Economics, Springer, vol. 55(1), pages 17-41, February.
    15. Soto Torres, M.D. & Macarro Heredia, M.J., 1997. "Consumo privado, inversión pública e impuestos en una solución no cooperativa," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 8, pages 163-189, Diciembre.
    16. Günther Rehme, 2007. "Economic Growth and (Re-)Distributive Policies in a Non-cooperative World," Journal of Economics, Springer, vol. 91(1), pages 1-40, May.
    17. Leong, Chee Kian & Huang, Weihong, 2010. "A stochastic differential game of capitalism," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 552-561, July.
    18. Charles Morcom & Michael Kremer, 2000. "Elephants," American Economic Review, American Economic Association, vol. 90(1), pages 212-234, March.
      • Michael Kremer & Charles Morcom, 1996. "Elephants," NBER Working Papers 5674, National Bureau of Economic Research, Inc.
      • Kremer, M. & Morcom, C., 1996. "Elephants," Working papers 96-17, Massachusetts Institute of Technology (MIT), Department of Economics.
    19. Rehme, Gunther, 2006. "Redistribution and economic growth in integrated economies," Journal of Macroeconomics, Elsevier, vol. 28(2), pages 392-408, June.
    20. Leong, Chee Kian, 2008. "Capitalism and Economic Growth: A Game-Theoretic Perspective," MPRA Paper 10472, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joptap:v:119:y:2003:i:2:d:10.1023_b:jota.0000005453.96575.2a. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.