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On Markov Equilibria in Dynamic Inventory Competition

Olsen, Tava Lennon; Parker, Rodney P. - 2015

We provide a review of the types of equilibria typically found in operations management inventory papers and a discussion on when the commonly used stationary infinite-horizon (open-loop) equilibrium may be sufficient for study. We focus particularly on order-up-to and basestock equilibria in...

Persistent link: https://www.econbiz.de/10014035530

Fiat Money Oligopolistic Economy With Labor/Leisure Trade-Off and Equilibrium Default

Levando, Dmitry - 2019

We are constructing an imperfect competition general equilibrium model, with non-consumable money and labor market; our … occurring at all three markets: labor, goods, and credit market, with a fixed money supply from a bank.A worker and an … equilibrium result, when a total value of default is bigger than total money supply …

Persistent link: https://www.econbiz.de/10012895423