An application of the continuous time replicator dynamic to economics

Eitaro Aiyoshi, Ryota Horie and Atsushi Maki

Mathematics and Computers in Simulation (MATCOM), 2002, vol. 59, issue 1, 105-113

Abstract: The present analysis is an application of the continuous time replicator dynamic to economics. Three types of problems are considered under conditions of a normalized constraint and non-negative constrains. The story of the following models is as follows. There are three or more corporations in a market. They behave so as to maximize their profits defined by the difference between their sales and cost functions with conjectural variations. In economics, there are many models concerning conjectural variation and Nash equilibrium. The present approach may be useful to examine the process of reaching equilibrium.

Keywords: Conjectural variation; Replicator dynamic; Runge–Kutta method (search for similar items in EconPapers)
Date: 2002
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0378475401003986
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:matcom:v:59:y:2002:i:1:p:105-113

Access Statistics for this article

Mathematics and Computers in Simulation (MATCOM) is currently edited by Robert Beauwens

More articles in Mathematics and Computers in Simulation (MATCOM) from Elsevier
Bibliographic data for series maintained by Catherine Liu ().