Publication: OPTGAME3: A dynamic game solver and an ...

Master data
Title: OPTGAME3: A dynamic game solver and an economic example
Subtitle:
Abstract: In this paper we present the OPTGAME3 algorithm, which can be used to calculate equilibrium and optimum control solutions of dynamic games. The algorithm was programmed in C# and MATLAB and allows the calculation of approximate cooperative Pareto-optimal Solutions and non-cooperative Nash and Stackelberg equilibrium solutions. In Addition we present an application of the OPTGAME3 algorithm where we use a small stylized nonlinear two-country macroeconomic model of a monetary union for analysing the interactions between fiscal (governments) and monetary (common central bank) policy makers, assuming different objective functions of these decision makers. Several dynamic game experiments are run for different information patterns and solution concepts. We show how the policy makers react optimally to demand and supply shocks. Some comments are given about possible applications to the recent sovereign debt crisis in Europe.
Keywords:
Publication type: Article in compilation (Authorship)
Publication date: 2013 (Print)
Published by: Advances in Dynamic Games. Theory, Applications, and Numerical Methods
Advances in Dynamic Games. Theory, Applications, and Numerical Methods
to publication
 ( Birkhäuser Verlag; Křivan V., Zaccour G. )
Title of the series: Annals of the International Society of Dynamic Games
Volume number: 13
First publication: Yes
Page: pp. 29 - 51

Versionen
Keine Version vorhanden
Publication date: 2013
ISBN:
  • 9783319026893
ISSN: -
Homepage: http://link.springer.com/chapter/10.1007/978-3-319-02690-9_2

Assignment
Organisation Address
Fakultät für Wirtschafts- und Rechtswissenschaften
  Institut für Volkswirtschaftslehre
Universitätsstr. 65-67
A-9020 Klagenfurt
Austria
  -994102
   vwl2@aau.at
https://www.aau.at/volkswirtschaftslehre/
To organisation
Universitätsstr. 65-67
AT - A-9020  Klagenfurt
Fakultät für Wirtschafts- und Rechtswissenschaften
  Institut für Unternehmensführung
  Abteilung für Controlling und Strategische Unternehmensführung
Universitätsstrasse 67
9020 Klagenfurt
Austria
   IFU_CSU@aau.at
https://www.aau.at/csu
To organisation
Universitätsstrasse 67
AT - 9020  Klagenfurt

Categorisation
Subject areas
  • 1114 - Numerical mathematics
  • 1152 - Game theory
  • 5347 - Operations research
  • 5334 - Political economic policy
Research Cluster
  • Entrepreneurship
Peer reviewed
  • Yes
Publication focus
  • Science to Science (Quality indicator: I)
Classification raster of the assigned organisational units:
working groups No working group selected

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