Iordanov, Iordan, and Vassilev, Andrey. "Strategic Trade Between Two Countries - Exploring the Case of Partial Local Consumer Protection." Serdica Journal of Computing 11.1 (2017): 031-043. <http://eudml.org/doc/289504>.
@article{Iordanov2017,
abstract = {The paper develops a dynamic model of trade between two
countries where the trading entities interact in a strategic context. Consumers
in both countries are endowed with certain incomes and try to acquire
as much as possible of the quantities available on the markets. Consumers
have privileged access to some of the good supplied locally, a form of partial
local protection. Over time, prices are adjusted to respond to the outcomes
of trading. For this setup, we prove the existence of Nash equilibria and
simulate the model numerically in Python to illustrate the possibility of obtaining
different types of price dynamics depending on the price adjustment
rule used.
ACM Computing Classification System (1998): J4, G4, I.6.3.},
author = {Iordanov, Iordan, Vassilev, Andrey},
journal = {Serdica Journal of Computing},
keywords = {Trade Models; Nash Equilibrium; Difference Equations},
language = {eng},
number = {1},
pages = {031-043},
publisher = {Institute of Mathematics and Informatics Bulgarian Academy of Sciences},
title = {Strategic Trade Between Two Countries - Exploring the Case of Partial Local Consumer Protection},
url = {http://eudml.org/doc/289504},
volume = {11},
year = {2017},
}
TY - JOUR
AU - Iordanov, Iordan
AU - Vassilev, Andrey
TI - Strategic Trade Between Two Countries - Exploring the Case of Partial Local Consumer Protection
JO - Serdica Journal of Computing
PY - 2017
PB - Institute of Mathematics and Informatics Bulgarian Academy of Sciences
VL - 11
IS - 1
SP - 031
EP - 043
AB - The paper develops a dynamic model of trade between two
countries where the trading entities interact in a strategic context. Consumers
in both countries are endowed with certain incomes and try to acquire
as much as possible of the quantities available on the markets. Consumers
have privileged access to some of the good supplied locally, a form of partial
local protection. Over time, prices are adjusted to respond to the outcomes
of trading. For this setup, we prove the existence of Nash equilibria and
simulate the model numerically in Python to illustrate the possibility of obtaining
different types of price dynamics depending on the price adjustment
rule used.
ACM Computing Classification System (1998): J4, G4, I.6.3.
LA - eng
KW - Trade Models; Nash Equilibrium; Difference Equations
UR - http://eudml.org/doc/289504
ER -
