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Bounded continuously distributed delays in dynamic oligopolies

✍ Scribed by Carl Chiarella; Ferenc Szidarovszky

Book ID
104363363
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
672 KB
Volume
18
Category
Article
ISSN
0960-0779

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✦ Synopsis

This paper introduces a way of modelling bounded continuously distributed time lags in dynamic economic models. Past data are averaged only over a bounded interval thus avoiding the use of very old (''stale'') economic data and hence making dynamic economic models more realistic. Dynamic oligopolies are formulated and then examined under this new type of information lag. Stability analysis is presented and the possibility of the birth of limit cycles is examined. Some special cases are considered, the computational analysis of which illustrates the theoretical findings.

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