Article ID Journal Published Year Pages File Type
884102 Journal of Economic Behavior & Organization 2011 14 Pages PDF
Abstract
► We combine two similar one-dimensional optimal control problems with DNSS property. ► In the resulting model two one-dimensional problems are jointly managed. ► Introducing even a modest amount of interaction can make a big difference. ► Interaction leads to multiple optimal steady states and related threshold behavior. ► The results reflect some important recent developments in optimal control theory.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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