Inequality and Growth: A Two-Player Dynamic Game with Production and Appropriation

• Tác giả: Julio Huato
• Ngôn ngữ: eng
• Ký hiệu phân loại: 519.3 Game theory
• Thông tin xuất bản: 2023
• Bộ sưu tập: Metadata
• ID: 196811

Tóm tắt

Comment: One of my Ph D dissertation papers at the City University of New York Graduate CenterThis paper models a two-agent economy with production and appropriation as a noncooperative dynamic game, and determines its closed-form Markovian Nash equilibrium. The analysis highlights the para-metric conditions that tip the economy from a nonaggressive or "co-operative" equilibrium to outright distributional conflict. The model includes parameters that capture the role of appropriation technology and destructiveness. The full dynamic implications of the game are yet to be explored, but the model offers a promising general framework for thinking about different technological and economic conditions as more or less conducive to cooperation or distributional conflict.