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dc.contributor.author
Larrosa, Juan Manuel Ceferino
dc.contributor.author
Tohmé, Fernando Abel
dc.date.available
2019-07-17T14:34:26Z
dc.date.issued
2007-10
dc.identifier.citation
Larrosa, Juan Manuel Ceferino; Tohmé, Fernando Abel; Strategic economic growth with decreasing rates of time preference in a two-agent economy; Asociación Argentina de Mecánica Computacional; Mecánica Computacional; 26; 10-2007; 513-522
dc.identifier.issn
1666-6070
dc.identifier.uri
http://hdl.handle.net/11336/79734
dc.description.abstract
This paper presents a two-agent economy, in which each agent has a consumption-dependent time preference. The optimal dynamic paths of accumulation will tend to one of many possible steady states, depending on the location of the initial capital level. The qualitative properties of this economic system have been analyzed elsewhere (Tohm´e and Dab´us, 2000). It has been shown that the interaction between the two agents may drag the poorest agent towards a higher steady state, getting her out of the potential poverty trap in which she could fall in isolation. We are interested now in studying specific functional forms of the joint production function, the utility functions and the psychological discount rates. The goal is to characterize both the individual and joint steady states in order to assess the advantages of interaction. Following the lead of (Dockner and Nishimura, 2004) we will obtain the subgame perfect equilibria of the economy seen as a two-person non-zero sum game. We will show that the non-linear convergence path towards the steady state examined by Tohm´e and Dab´us also obtains in a closed-loop solution.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Asociación Argentina de Mecánica Computacional
dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
Decreasing Rate of Time Preference
dc.subject
Dynamic System
dc.subject
Equilibrium
dc.subject.classification
Economía, Econometría
dc.subject.classification
Economía y Negocios
dc.subject.classification
CIENCIAS SOCIALES
dc.title
Strategic economic growth with decreasing rates of time preference in a two-agent economy
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2019-05-06T16:13:50Z
dc.journal.volume
26
dc.journal.pagination
513-522
dc.journal.pais
Argentina
dc.journal.ciudad
Córdoba
dc.description.fil
Fil: Larrosa, Juan Manuel Ceferino. Universidad Nacional del Sur. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca; Argentina
dc.description.fil
Fil: Tohmé, Fernando Abel. Universidad Nacional del Sur. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca; Argentina
dc.journal.title
Mecánica Computacional
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://cimec.org.ar/ojs/index.php/mc/article/view/1229
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