Cellini, Roberto ; Lambertini, Luca
(2005)
Weak and strong time consistency
in differential oligopoly games with
capital accumulation.
p. 22.
DOI 10.6092/unibo/amsacta/1792.
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Abstract
We illustrate two differential oligopoly games with capital accumulation where, alternatively, the accumulation dynamics of productive capacity is modelled either à la Solow—Swan or à la Ramsey. We show that in the first case the open-loop Nash equilibrium is only weakly time consistent, while in the second it is strongly so, although the Ramsey game is not state linear.
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