An application of the continuous time replicator dynamic to economics

Eitaro Aiyoshi, Ryota Horie, Atsushi Maki

Research output: Contribution to journalArticle

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.

Original languageEnglish
Pages (from-to)105-113
Number of pages9
JournalMathematics and Computers in Simulation
Volume59
Issue number1-3
DOIs
Publication statusPublished - 2002 May 10
Externally publishedYes

Fingerprint

Economics
Cost functions
Profitability
Sales
Industry
Continuous time
Conjectural variation
Replicator dynamics
Cost function
Nash equilibrium
Profit

Keywords

  • Conjectural variation
  • Replicator dynamic
  • Runge-Kutta method

ASJC Scopus subject areas

  • Information Systems and Management
  • Control and Systems Engineering
  • Applied Mathematics
  • Computational Mathematics
  • Modelling and Simulation

Cite this

An application of the continuous time replicator dynamic to economics. / Aiyoshi, Eitaro; Horie, Ryota; Maki, Atsushi.

In: Mathematics and Computers in Simulation, Vol. 59, No. 1-3, 10.05.2002, p. 105-113.

Research output: Contribution to journalArticle

@article{7ac8ddab2be84e4a8108cbeda0a93ddb,
title = "An application of the continuous time replicator dynamic to economics",
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",
author = "Eitaro Aiyoshi and Ryota Horie and Atsushi Maki",
year = "2002",
month = "5",
day = "10",
doi = "10.1016/S0378-4754(01)00398-6",
language = "English",
volume = "59",
pages = "105--113",
journal = "Mathematics and Computers in Simulation",
issn = "0378-4754",
publisher = "Elsevier",
number = "1-3",

}

TY - JOUR

T1 - An application of the continuous time replicator dynamic to economics

AU - Aiyoshi, Eitaro

AU - Horie, Ryota

AU - Maki, Atsushi

PY - 2002/5/10

Y1 - 2002/5/10

N2 - 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.

AB - 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.

KW - Conjectural variation

KW - Replicator dynamic

KW - Runge-Kutta method

UR - http://www.scopus.com/inward/record.url?scp=0037052692&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0037052692&partnerID=8YFLogxK

U2 - 10.1016/S0378-4754(01)00398-6

DO - 10.1016/S0378-4754(01)00398-6

M3 - Article

AN - SCOPUS:0037052692

VL - 59

SP - 105

EP - 113

JO - Mathematics and Computers in Simulation

JF - Mathematics and Computers in Simulation

SN - 0378-4754

IS - 1-3

ER -