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- Panchuk, Anastasiia, et al.
(författare)
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Stability in a non-autonomous iterative system : an application to oligopoly
- 2009
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Ingår i: Computers and Mathematics with Applications. - Oxford : Pergamon Press. - 0898-1221 .- 1873-7668. ; 58:10, s. 2022-2034
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Tidskriftsartikel (refereegranskat)abstract
- This paper reconsiders the relation between oligopoly and perfect competition, more specifically the problem of emergent instability when the number of competitors increases, as pointed out by several authors. A process of mixed short and long run dynamics is set up. In the short run the competitors are subject to capacity limits due to fixed capital stocks, in the long run they may renew these stocks and so in the moments of reinvestment have access to a constant returns technology. The evolution of the system depends on the number of competitors, the interval between their entry on the market, and the durability of capital. The main result is a theorem showing that if capital has a durability of more periods than the spacing of reinvestment times among the firms, multiplied with their total number, then the system always contracts to the Cournot equilibrium state.
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- Puu, Tönu, 1936-, et al.
(författare)
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A Hicksian multiplier-accelerator model with floor determined by capital stock
- 2005
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier BV. - 0167-2681 .- 1879-1751. ; 56:3, s. 331-348
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Tidskriftsartikel (refereegranskat)abstract
- This article reconsiders the Hicksian multiplier-accelerator model with the “floor” related to the depreciation on actual capital stock. Through the introduction of the capital variable, a growth trend is created endogenously by the model itself, along with growth rate oscillations around it. The “ceiling” can be dispensed with altogether. As everything is growing in such a model, a variable transformation is introduced to focus relative dynamics of the income growth rate and the actual capital output ratio.
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- Puu, Tönu, 1936-
(författare)
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Arts, Sciences, and Economics : A Historical Safari
- 2006
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Bok (övrigt vetenskapligt/konstnärligt)abstract
- This book deals with the economic aspects of changing attitudes in arts and sciences. The effects of the public good character of culture, along with the very long production period and lifetime for its products, are emphasized, since both contribute to the failure of normal market solutions. Embodiment of ideas, and the consequences of modern reproduction technology for protection of property rights are closely examined. The evolution within arts and sciences, which often seems to return to previously scrapped ideals, is illustrated by detailed case studies, in which the importance of changing tastes, rather than progress proper, is emphasized. The author attempts an understanding for this using Darwinian evolution in combination with modern mathematical complexity theory, expressed in terms accessible to the general reader.
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- Puu, Tönu, 1936-
(författare)
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Complex oligopoly dynamics
- 2005
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Ingår i: Nonlinear Dynamical Systems in Economics. - : Springer. - 9783211261774
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Bokkapitel (övrigt vetenskapligt/konstnärligt)
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| 8. |
- Puu, Tönu, 1936-
(författare)
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Continuous economic space modelling : Draft of a survey
- 2009
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Ingår i: The annals of regional science. - : Springer Science and Business Media LLC. - 0570-1864 .- 1432-0592. ; 43:1, s. 5-25
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Tidskriftsartikel (refereegranskat)abstract
- This paper attempts a survey of continuous modelling in spatial economics. The classics of spatial economics, from von Thünen on, like geographers always did, considered phenomena in the two dimensional plane, though later development was in favour of modelling discrete location point sets connected by communication arcs. The models discussed here are strongly focused around Beckmann’s continuous space market model from the early 1950s.
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- Puu, Tönu, 1936-
(författare)
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Introduction to Mathematical Economics
- 2007
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Ingår i: Mathematical Models in Economics. - Oxford : EOLSS Publishers.
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Bokkapitel (övrigt vetenskapligt/konstnärligt)
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