The asymptotic behavior of dynamic rent-seeking games

Chiarella, C; Szidarovszky, F

The asymptotic behavior of dynamic rent-seeking games

Chiarella, C Szidarovszky, F

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Publication Type:: Journal Article
Citation:: Computers and Mathematics with Applications, 2002, 43 (1-2), pp. 169 - 178
Issue Date:: 2002-01-01

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Field	Value	Language
dc.contributor.author	Chiarella, C	en_US
dc.contributor.author	Szidarovszky, F	en_US
dc.date.issued	2002-01-01	en_US
dc.identifier.citation	Computers and Mathematics with Applications, 2002, 43 (1-2), pp. 169 - 178	en_US
dc.identifier.issn	0898-1221	en_US
dc.identifier.uri	http://hdl.handle.net/10453/3446
dc.description.abstract	Dynamic rent-seeking games with nonlinear cost functions are analyzed. The local asymptotic stability of the solution is first examined. We show that in the absence of a dominant agent, all eigenvalues of the Jacobian are real. Conditions are given for the local asymptotic stability as well as for the local instability of the equilibrium. In the presence of a dominant agent, complex eigenvalues are possible. Simple stability conditions are presented for cases when all eigenvalues are real, and the possibility of limit cycles is analyzed in the case of complex eigenvalues.	en_US
dc.relation.ispartof	Computers and Mathematics with Applications	en_US
dc.relation.isbasedon	10.1016/S0898-1221(01)00281-4	en_US
dc.subject.classification	Numerical & Computational Mathematics	en_US
dc.title	The asymptotic behavior of dynamic rent-seeking games	en_US
dc.type	Journal Article
utslib.citation.volume	1-2	en_US
utslib.citation.volume	43	en_US
utslib.for	150205 Investment and Risk Management	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.for	140199 Economic Theory not elsewhere classified	en_US
utslib.for	01 Mathematical Sciences	en_US
utslib.for	08 Information and Computing Sciences	en_US
utslib.for	15 Commerce, Management, Tourism and Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.issue	1-2	en_US
pubs.publication-status	Published	en_US
pubs.volume	43	en_US

Abstract:

Dynamic rent-seeking games with nonlinear cost functions are analyzed. The local asymptotic stability of the solution is first examined. We show that in the absence of a dominant agent, all eigenvalues of the Jacobian are real. Conditions are given for the local asymptotic stability as well as for the local instability of the equilibrium. In the presence of a dominant agent, complex eigenvalues are possible. Simple stability conditions are presented for cases when all eigenvalues are real, and the possibility of limit cycles is analyzed in the case of complex eigenvalues.

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http://hdl.handle.net/10453/3446