Dynamic analysis of oligopsony under adaptive expectations

MaRDI QIDQ2782158zbMATH OpenFDO

Authors F. Szidarovszky, K. Okuguchi

Publication date 25 April 2002

Published in Southwest Journal of Pure and Applied Mathematics (Search for Journal in Brave)

Full work available at URL https://eudml.org/doc/228771, http://www.emis.de/journals/SWJPAM/vol2-01.html

zbMATH Keywords

adaptive expectationasymptotical stabilityoligopolyoligopsony

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Special types of economic markets (including Cournot, Bertrand) (91B54) Asymptotic stability in control theory (93D20)

Review text

Having their book ``The Theory of Oligopoly with Multi-Product Firms, Springer-Verlag (1999; Zbl 0704.90001) as background, the authors analyze the global stability of an oligopsony equilibrium under certain conditions and interprete the found conditions for some special cases. Mathematically they get a matrix equation as state transition equation for a discrete dynamic system. So, in order to obtain conditions for asymptotic stability of the equilibrium of their system they must study the behaviour of the eigenvalues of the coefficient matrix of their system. They get results, that are useful for practical purposes.

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