Cournot-Nash Equilibrium and Perfect Competition in the Solow-Uzawa Growth Model

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dc.creatorZhang, Wei-Bin
dc.date2021-08-20
dc.date.accessioned2025-10-01T23:48:53Z
dc.descriptionThe purpose of this study is to contribute to economic growth theory by introducing Cournot competition into the Solow-Uzawa neoclassical growth model with Zhang’s concept of disposable income and utility function. The Solow-Uzawa two-sector growth model deals with economic growth with two sectors with all the markets perfectly competitive. The final goods sector in this study is the same as that in the Solow model with perfect competition. The consumer goods sector is composed of two firms and characterized by Cournot competition. All the input factors are traded in perfectly competitive markets. The duopoly’s product is solely consumed by consumers. Perfectly competitive firms earn zero profit, while duopolists earn positive profits. This study assumes that the population shares the profits equally. First, we built the dynamic model. Afterward, we found a computational procedure to describe the time-dependent path of the economy and conducted comparative dynamic analyses of some parameters. Finally, we compared the economic performances of the model with Cournot competition and the perfectly competitive model.en-US
dc.descriptionEl propósito de este estudio es contribuir a la teoría del crecimiento económico por medio de la introducción de la competencia de Cournot en el modelo neoclásico del crecimiento económico de Solow-Uzawa con el concepto de ingreso disponible y la función de utilidad de Zhang. El modelo de crecimiento de dos sectores de Solow-Uzawa maneja el crecimiento económico con dos sectores con todos los mercados perfectamente competitivos. En este trabajo, el sector de bienes finales es el mismo que en el modelo de Solow con competencia perfecta. El sector de bienes de consumo está compuesto por dos firmas y se caracteriza por la competencia de Cournot. Todos los factores de entrada se intercambian en mercados perfectamente competitivos. Solo los consumidores consumen el producto del duopolio. Las firmas perfectamente competitivas tienen una ganancia igual a cero, mientras que las duopolistas tienen ganancias positivas. En este estudio se asume que la población comparte las ganancias de forma equitativa. Primero, construimos un modelo dinámico. Después, encontramos un procedimiento computacional para describir el movimiento de la economía dependiendo del tiempo y realizamos análisis dinámicos comparativos de algunos parámetros. Finalmente, comparamos los desempeños económicos del modelo con competencia de Cournot y el modelo perfectamente competitivo.es-ES
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dc.identifierhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1801
dc.identifier10.22430/24223182.1801
dc.identifier.urihttps://hdl.handle.net/20.500.12622/7038
dc.languageeng
dc.publisherInstituto Tecnológico Metropolitano - ITMes-ES
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1801/2119
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1801/2121
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1801/2122
dc.relationhttps://revistas.itm.edu.co/index.php/revista-cea/article/view/1801/2176
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dc.rightsDerechos de autor 2021 Instituto Tecnológico Metropolitanoes-ES
dc.sourceRevista CEA; Vol. 7 No. 15 (2021); e1801en-US
dc.sourceRevista CEA; Vol. 7 Núm. 15 (2021); e1801es-ES
dc.source2422-3182
dc.source2390-0725
dc.subjectCournot gameen-US
dc.subjectperfect competitionen-US
dc.subjectNash equilibriumen-US
dc.subjectSolow modelen-US
dc.subjectUzawa modelen-US
dc.subjectjuego de Cournotes-ES
dc.subjectcompetencia perfectaes-ES
dc.subjectequilibrio de Nashes-ES
dc.subjectmodelo de Solowes-ES
dc.subjectmodelo de Uzawaes-ES
dc.titleCournot-Nash Equilibrium and Perfect Competition in the Solow-Uzawa Growth Modelen-US
dc.titleEquilibrio de Cournot-Nash y competencia perfecta en el modelo de crecimiento de Solow-Uzawaes-ES
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion

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