Studies in the Dynamics of Economic Systems

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Permanent URL	http://hdl.lib.byu.edu/1877/2605
Title	Studies in the Dynamics of Economic Systems
BYU Creator	Giraud-Carrier, Christophe G. Seppi, Kevin D. Tran, Nghia Warnick, Sean C. Weyerman, W. Samuel
Creator	Johnson, R.
Keywords	economic systems; dynamic models; control theory; cooperation
Description/Abstract	This paper demonstrates the utility of systems and control theory in the analysis of economic systems. Two applications demonstrate how the analysis of simple dynamic models sheds light on important practical problems. The first problem considers the design of a retail laboratory, where the small gain theorem enables the falsification of pricing policies. The second problem explores industrial organization using the equilibria of profit-maximizing dynamics to quantify the percentage of a firm’s profits due strictly to the cooperative effects among its products. This ”Value of Cooperation” suggests an important measure for both organizational and antitrust applications.
Source	N. Tran, W. Weyerman, C. Giraud-Carrier, K. Seppi, S. Warnick, and R. Johnson. "Studies in the Dynamics of Economic Systems." In Proceedings of the IEEE Conference on Control Applications, 2005.;
Publisher	IEEE
Date Original	2005
Date Digital	2010-10-21
Language	English eng en
Publication Type	Peer-Reviewed Articles Conference Proceedings
Type	Text
Format	application/pdf
Owning Institution	Brigham Young University
BYU College	College of Physical and Mathematical Sciences
BYU Department	Computer Science
Copyright Status	(c) 2005 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.;
Copyright Use Information	http://www.lib.byu.edu/generic_copyright.html

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