On the (in)stability of nonlinear feedback solutions in a dynamic duopoly with renewable resource exploitation
نویسندگان
چکیده
We revisit Fujiwaras (2008) di¤erential duopoly game to show that the degenerate nonlinear feedback identi ed by the tangency point with the stationary state line is indeed unstable, given the dynamics of the natural resource exploited by rms. To do so, we fully characterise the continuum of nonlinear feedback solution via Rowats (2007) method, characterising the in nitely many stable nonlinear feedback equilibria. JEL codes: C73, L13, Q2
منابع مشابه
A short overview of the electrical machines control based on Flatness-technique
Optimal linear controllers and high computational non-linear controllers are normally applied to control the nonlinear systems. Flatness control method is a control technique for linear systems as well as nonlinear systems by static and dynamic feedback namely as endogenous dynamic feedback. This method takes into account the non-linear behavior of the process while preventing complicated compu...
متن کاملModeling of Climate Change Effects on Groundwater Resources: The Application of Dynamic Systems Approach
The purpose of the present study was the simulation of climate change effects on groundwater resources in Iran by using the dynamic systems approach. The approach was performed through system dynamics modeling process including problem explanation, system description, model development, model testing, and the use of the model for policy analysis. The impact of the application of various exogeno...
متن کاملA New Robust Control Design Based on Feedback Compensator for Sssc
In this paper, the modified linearized Phillips-Heffron model is utilized to theoretically analyze asingle-machine infinite-bus (SMIB) installed with SSSC. Then, the results of this analysis are used forassessing the potential of an SSSC supplementary controller to improve the dynamic stability of apower system. This is carried out by measuring the electromechanical controllability through sing...
متن کاملStability analysis and feedback control of T-S fuzzy hyperbolic delay model for a class of nonlinear systems with time-varying delay
In this paper, a new T-S fuzzy hyperbolic delay model for a class of nonlinear systems with time-varying delay, is presented to address the problems of stability analysis and feedback control. Fuzzy controller is designed based on the parallel distributed compensation (PDC), and with a new Lyapunov function, delay dependent asymptotic stability conditions of the closed-loop system are derived v...
متن کاملSplittable stochastic project scheduling with constrained renewable resource
This paper discusses the problem of allocation of constrained renewable resource to splittable activities of a single project. If the activities of stochastic projects can be split, these projects may be completed in shorter time when the available resource is constrained. It is assumed that the resource amount required to accom-plish each activity is a discrete quantity and deterministic. The ...
متن کامل