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2001 Fiscal Year Final Research Report Summary

A Dynamic General Equilibrium Analysis to the Coase's Conjecture.

Research Project

Project/Area Number 11630024
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field 経済理論
Research InstitutionFukuoka University

Principal Investigator

HAYASHI Moto  Faculty of Ecomomics, Fukuoka University, Professor, 経済学部, 教授 (10090789)

Co-Investigator(Kenkyū-buntansha) FUJIMOTO Hiroaki  Faculty of Ecomomics, Fukuoka University, Associate Professor, 経済学部, 助教授 (50209102)
Project Period (FY) 1999 – 2001
KeywordsDurable Good / Increasing Marginal Costs / Coase's Conjecture / LQ Control Problem / Reid's method / Matrix Defferential Equation of Riccati Type / Optimak Control Law / 行列リャプノフ関数
Research Abstract

Say it is known that a monopoly firm produces a durable goad with increasing marginal costs, At what price will she sell the good to consumers? Coase (1972) conjectures with a static model that the price (and the total stock of the good owned by consumers) will move towards a competitive level rather than towards a monopolistic one unless she reduces the durability of the good. In this report, we would like to show with a dynamic model of a so-called LQ (linear quadratic) control problem, in which the model has a system of 2 linear differential equations of the price and stock and a quadratic evaluation functional of her profit, that what determines the Coase s conjecture and how she should control a rate of output of the good. We employ the Reid s method in order to resolve a matrix differential equation of Riccati type and obtain the firm s optimal control law, which does not depend upon initial states of the price and stock, for her profit maximization problem of the durable good.

  • Research Products

    (2 results)

All Other

All Publications (2 results)

  • [Publications] 藤本浩明: "LQ最適制御について"福岡大学経済学論叢. 44. 289-321 (2000)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] Fujimoto, H.: "On an LQ Optimal Control (in Japanese)"Fukuoka Univ. Review of Economics,. @44, +3-4. 289-321 (2000)

    • Description
      「研究成果報告書概要(欧文)」より

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Published: 2003-09-17  

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