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2002 Fiscal Year Final Research Report Summary

Economic Reseach on Global Environmental Problems

Research Project

Project/Area Number 12630019
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field 経済理論
Research InstitutionCHUO UNIVERSITY

Principal Investigator

MATSUMOTO Akio  Faculty of Economics, Chuo University, Professor, 経済学部, 教授 (50149473)

Co-Investigator(Kenkyū-buntansha) INABA Toshio  School of Education, Waseda University, Professor, 教育学部, 教授 (30120950)
YOKOYAMA Akira  Faculty of Policy Studies, Chuo University, Professor, 総合政策学部, 教授 (60137792)
ANIKA Yuji  Faculty of Commerce, Chuo University, Professor, 商学部, 教授 (40137857)
MISAWA Tetsuya  Department of Economics, Nagoya City University, Professor, 経済学部, 教授 (10190620)
Project Period (FY) 2000 – 2002
KeywordsEnvironment / Dynamic Optimization / renewable resource / population problem / nonlinear dynamic theory / game theory / Cournot model / global warming
Research Abstract

The study constrocts multi-dimensional nonlinear dynamic economic models that are useful for considering the long-run dynamic phenomenon observed in not only economics but also other areas such as ecology, biology, global warming, etc.
This study has three parts. The first part investigates an economic implication of chaotic fluctuations that are observed in a nonlinear economic dynamic model. To this end, it constructs a nonlinear discrete time Cournot duopoly model in which firms have U-shaped or inverted U-shaped reaction functions due to production externality and shows that chaotic output fluctuations can arise for strong nonlinearities. Two main results are the following: (1) it is theoretically as well as numerically confirmed that one of the duopolists can benefit in the sense that the long-run average profit taken along a chaotic trajectory is higher than the profit taken at an equilibrium point, while the rival is disadvantaged if both duopolists are homogeneous; (2) is it verified with numerical simulations that both duopolists can benefit from chaotic trajectories if they are heterogeneous.
The second part of this study focuses on the stable fixed point and derives the particular analytic solutions, as well as general solutions of the Cournot adjustment process of output. Since there are, in general, difficulties in finding analytical solutions in a discrete time system, it is worthwhile to present the existence conditions for analytical solutions.
The last part constructs a two (agricultural and manufactured) sector general equilibrium model and studies the dynamic path of the economy and the global temperatures. It is numerically demonstrated that the dynamic interaction between the stable climate system and the stable market adjustment process can generate various dynamics ranging from periodic cycle to chaotic fluctuations

  • Research Products

    (8 results)

All Other

All Publications (8 results)

  • [Publications] 松本 昭夫: "Let It Be : Chaotic Price Instability can be Benefitial"Chaos, Solitons and Fractals. (2002年投稿採択、印刷準備中). (2003)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 松本 昭夫, 野中 康夫: "Profitable Chaos in Nonlinear Duopoly Market with Asymmetric Production Externality"Discussion Paper Series (Institute of Economic Research, Chuo University). 37. 1-22 (2002)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 松本 昭夫: "Density Function of Piecewise Linear Transformation"Discussion Paper Series (Institute of Economic Research, Chuo University). 41. 1-41 (2003)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 松本 昭夫, 鈴木 麻美: "Analytic Solutions of Nonlinear Cournot Dynamics with Heterogeneous Duopolists"Discussion Paper Series (Institute of Economic Research, Chuo University). 42. 1-19 (2003)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] Akio Matsumoto: "Let It Be: Chaotic Price Instability can be Beneficial"Chaos, Solitons and Gractrals, accepted in December. in print. (2002)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Akio Matsumoto and Yasuo Nonaka: "Profitable Chaos in Nonlinear Duopoly Market with Asymmetric Production Externality"Discussion Paper Series, Institute of Economics Research, Chuo University. No. 37. 1-22 (2002)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Akio Matsumoto: "Density Function of Piecewise Linear Transformation"Discussion Paper Series, Institute of Economics Research, Chuo University. No. 41. 1-41 (2003)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Akio Matsumoto and Mami Suzuki: "Analytic Solutions of Nonlinear Cournot Dynamics with Heterogeneous Duopolists"Discussion Paper Series, Institute of Economics Research, Chuo University. No. 42. 1-19 (2003)

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

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Published: 2004-04-14  

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