Cooperative solutions in an economic growth game

Carlos González-Alcón, Joaquín Sicilia and José Álvarez

Annals of Operations Research, 1998, vol. 84, issue 0, 209-230

Abstract: A differential game with workers and capitalists as players is considered. The players distribute the output of an economy and make decisions about their consumption and investment. They wish to reach at least a proposed final capital. The paper studies the non-dominated payoffs and the associated strategies in the case of the players cooperating and synchronizing their actions. The Pareto solutions are compared with the Nash equilibria. Copyright Kluwer Academic Publishers 1998

Date: 1998
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DOI: 10.1023/A:1018940920851

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