Weak and strong time consistency in a differential oligopoly game with capital accumulation (Q937142): Difference between revisions

In this paper a differential oligopoly game with Ramsey capital accumulation rule is studied. Under the open-loop information structure, it is shown that the model admits a Nash equilibrium which is strongly time consistent. The reason is that the first order conditions for the control variables are independent of states and when the co-state variables are zero for the entire planning horizon.