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題名 | 動態Cournot模型的投資決策分析=An Analysis of Investment Decisions in Dynamic Cournot Model |
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作者 | 林正寶; | 書刊名 | 國立中興大學人文社會學報 |
卷期 | 8 1999.06[民88.06] |
頁次 | 頁133-171 |
分類號 | 553.5 |
關鍵詞 | 投資決策; 微分遊戲; 資本運動; 外生變化; Investment decision; Differential game; Capital motion; Exogenous shocks; |
語文 | 中文(Chinese) |
中文摘要 | 本文以二階非齊次微分遊戲模型探討在完全訊息下複占廠商投資決策的Nash均 衡是否存在且為動態穩定,以及每廠資本運動對外生變化如何做出反應?由本文 推導的結果是:兩廠的Nash均衡存在,但不一定是漸近局部穩定;其漸進局部穩 定之充要條件是:與模型中的參數比較,市場利率要足夠地大。再者,在模型為 穩定狀態時,由於兩廠投資決策會交互影響,以致每廠資本運動因外生變化引起 的反應不明確的。但是,在模型為不穩定狀態時,市場需求變化對每廠的資本運 動有正面的影響,而在利率低於資本折舊率下,每廠資本運動對調整成本參數亦 呈正向反應。 |
英文摘要 | This paper analyzes, in a second-order nonhomogenous differential game model, whether a Nash equilibrium of duopolist's investment decisions exists and exhibits the property of dynamic stability, and how the capital motion of each firm responds to exogenous shocks. It is shown in this paper that a Nash equilibrium does exist, but is not necessarily asymptotically locally stable, depending on whether the rate of interest relative to the magnitude of model parameters is sufficiently large. Furthermore, the responses of each firm's capital motions to exogenous shocks are ambiguous due to the fact that the investment decisions of two firms interact each other when the dynamic Cournot model is at the steady state. However, when the model is not at the steady state, the effect of market demand changes on each firm's capital motions is positive, and so is that of an adjustment cost parameter on it if the rate of interest is lower than the depreciation rate of capital. |
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