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Strategic Interactions in a One-Sector Growth Model

Eric Fesselmeyer (), Leonard Mirman and Marc Santugini ()
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Marc Santugini: IEA, HEC Montréal, http://www.hec.ca/iea/

No 13-01, Cahiers de recherche from HEC Montréal, Institut d'économie appliquée

Abstract: We study the effect of dynamic and investment externalities in a one-sector growth model. In our model, two agents interact strategically in the utilization of capital for consumption, savings, and investment in technical progress. We consider two types of investment choices: complements and substitutes. For each case, we derive the equilibrium and provide the corresponding stationary distribution. We then compare the equilibrium with the social planner’s solution.

Keywords: Capital accumulation; Dynamic game; Growth; Investment; Non-excludable capital (search for similar items in EconPapers)
JEL-codes: C72 C73 D81 D92 O40 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2013-07, Revised 2015-02
New Economics Papers: this item is included in nep-dge, nep-fdg, nep-gth and nep-spo
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Persistent link: https://EconPapers.repec.org/RePEc:iea:carech:1301

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