Price dynamics in a strategic model of trade between two regions

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dc.creatorIordanov, Iordan V.
dc.creatorStoyanov, Stoyan V.
dc.creatorVassilev, Andrey A.
dc.date2008-05-20
dc.date.accessioned2026-07-07T09:39:52Z
dc.date.available2026-07-07T09:39:52Z
dc.descriptionThis paper develops a strategic model of trade between two regions in which, depending on the relation among output, financial resources and transportation costs, the adjustment of prices towards an equilibrium is studied. We derive conditions on the relations among output and financial resources which produce different types of Nash equilibria. The paths obtained in the process of converging toward a steady state for prices under discrete-time and continuous-time dynamics are derived and compared. It turns out that the results in the two cases differ substantially. Some of the effects of random disturbances on the price dynamics in continuous time are also studied.
dc.description64 pages, 16 figures
dc.identifierhttps://arxiv.org/abs/0805.3087
dc.identifierhttp://arxiv.org/abs/0805.3087
dc.identifier.urihttp://salesiana.dossiersoluciones.com/handle/123456789/161338
dc.subjectOptimization and Control
dc.subject91B72, 91A40, 91B60, 91B62
dc.titlePrice dynamics in a strategic model of trade between two regions
dc.typetext

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