Abstract
The present analysis is an application of the continuous time replicator dynamic to economics. Three types of problems are considered under conditions of a normalized constraint and non-negative constrains. The story of the following models is as follows. There are three or more corporations in a market. They behave so as to maximize their profits defined by the difference between their sales and cost functions with conjectural variations. In economics, there are many models concerning conjectural variation and Nash equilibrium. The present approach may be useful to examine the process of reaching equilibrium.
| Original language | English |
|---|---|
| Pages (from-to) | 105-113 |
| Number of pages | 9 |
| Journal | Mathematics and Computers in Simulation |
| Volume | 59 |
| Issue number | 1-3 |
| DOIs | |
| Publication status | Published - 2002 May 10 |
Keywords
- Conjectural variation
- Replicator dynamic
- Runge-Kutta method
ASJC Scopus subject areas
- Theoretical Computer Science
- Computer Science(all)
- Numerical Analysis
- Modelling and Simulation
- Applied Mathematics