Firm size distribution in oblivious equilibrium model with quality ladder

研究成果: Chapter in Book/Report/Conference proceedingConference contribution

抄録

In this article, we investigate a simulated firm size distribution in the model of Weintraub, Benkard, and Van Roy (Operations Research, 2010) which is a oblivious equilibrium (OE) model with a canonical quality ladder setting of Pakes and McGuire (Rand Journal of Economics, 1994). In previous research, validity of applying an OE model in a specific context have been assessed in two aspects: (i) how precisely the OE could replicate the MPE outcomes (lighttail condition); and (ii) whether restricting agents' information (so does strategy) could be reasonable. In contrast, we propose a new criterion for the validity of OE models: whether equilibria could replicate power law of firm size distribution that is typically observed in real world data. We find that, as the quality depreciation probability or the investment cost becomes higher, the distribution comes closes to power law. On the other hand, the entry cost have virtually no impacts on the curvature of log-log plots.

本文言語英語
ホスト出版物のタイトルDistributed Computing and Artificial Intelligence, 11th International Conference, DCAI 2014
出版社Springer Verlag
ページ99-106
ページ数8
ISBN(印刷版)9783319075921
DOI
出版ステータス出版済み - 2014
イベント11th International Symposium on Distributed Computing and Artificial Intelligence 2014, DCAI 2014 - Salamanca, スペイン
継続期間: 6 4 20146 6 2014

出版物シリーズ

名前Advances in Intelligent Systems and Computing
290
ISSN(印刷版)2194-5357

その他

その他11th International Symposium on Distributed Computing and Artificial Intelligence 2014, DCAI 2014
国/地域スペイン
CitySalamanca
Period6/4/146/6/14

All Science Journal Classification (ASJC) codes

  • 制御およびシステム工学
  • コンピュータ サイエンス(全般)

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