Competition and welfare for a stochastically fluctuating market with irreversible decisions

研究成果: Article

抜粋

The present paper, in the sprit of econophysics, attempts to shed new light on the aspect that was missed in the traditional economic analysis. More precisely, the present paper combines the optimal stopping model and the economic model into a single structure and examines the relationship between the competition and the welfare, which has been a major focus of the recent economic analysis. The main finding is that in a stochastically fluctuating small market, suppression of the competition increases the growth rate of the welfare-stochastic version of the 'excess entry theorem.'.

元の言語English
ページ(範囲)2846-2850
ページ数5
ジャーナルPhysica A: Statistical Mechanics and its Applications
387
発行部数12
DOI
出版物ステータスPublished - 2008 5 1

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ASJC Scopus subject areas

  • Statistics and Probability
  • Condensed Matter Physics

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