期刊
MATHEMATICS
卷 9, 期 16, 页码 -出版社
MDPI
DOI: 10.3390/math9161983
关键词
game theory; corporate environmentalism; dynamic multi-objective duopoly; open-loop equilibrium; feedback Nash equilibrium
类别
This paper examines a discrete-time dynamic duopoly game with homogenous goods, finding that firms may invest differently under a feedback information structure compared to an open-loop one, and that capital stock is more sensitive to environmental appreciation in a feedback Nash equilibrium.
This paper studies a discrete-time dynamic duopoly game with homogenous goods. Both firms have to decide on investment where investment increases production capacity so that they are able to put a larger quantity on the market. The downside, however, is that a larger quantity raises pollution. The firms have multiple objectives in the sense that each one maximizes the discounted profit stream and appreciates a clean environment as well. We obtain some surprising results. First, where it is known from the continuous-time differential game literature that firms invest more under a feedback information structure compared to an open-loop one, we detect scenarios where the opposite holds. Second, in a feedback Nash equilibrium, capital stock is more sensitive to environmental appreciation than in the open-loop case.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据