Anticipation in innovative investment under oligopolistic competition

DOI10.1016/J.AUTOMATICA.2012.08.007MaRDI QIDQ694811zbMATH OpenOpenAlexFDO

Authors Stefan Wrzaczek, Peter M. Kort

Publication date 13 December 2012

Published in Automatica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.automatica.2012.08.007

zbMATH Keywords

differential gamesembodied technological progressmaximum principleoptimal control theoryvintage capital

Mathematics Subject Classification ID

Optimality conditions for problems involving partial differential equations (49K20) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Nonlinear systems in control theory (93C10) Control/observation systems governed by partial differential equations (93C20)

Recommendations

• Competitive investment strategies in new technology adoption with a further new technology anticipated
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Cites work

• Anticipation effects of technological progress on capital accumulation: a vintage capital approach
• Capacity Investment, Preemption and Commitment in an Infinite Horizon Model
• Capital accumulation games of infinite duration
• Dynamic noncooperative game theory
• Dynamic oligopoly with capacity adjustment costs
• scientific article; zbMATH DE number 1734466 (Why is no real title available?)
• On the saddle-point stability for a class of dynamic games
• Optimality conditions for age-structured control systems.
• Turnpike properties of capital accumulation games

Cited in

(6)

• Competitive investment strategies in new technology adoption with a further new technology anticipated
• Optimal firm growth under the threat of entry
• Technological innovations, economic renovation, and anticipation effects
• Dynamic strategic interaction between an innovating and a non-innovating incumbent
• To grow or to fluctuate – optimal demographic paths
• Technological leadership and persistence of monopoly under endogenous entry: static versus dynamic analysis

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