Ahmad Naimzada

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In this paper, we investigate the question of whether the assumption of the “representative agent”, often made in economic modeling, is innocuous or whether it may be misleading under certain circumstances. In order to obtain some insight into this question, two dynamic Cournot duopoly games are considered, whose dynamics are represented by discrete-time(More)
We propose an oligopoly game where quantity setting firms have incomplete information about the demand function. At each time step they solve a profit maximization problem assuming a linear demand function and ignoring the effects of the competitors’ outputs. Despite such a rough approximation, that we call “Local Monopolistic Approximation” (LMA), the(More)
This paper develops a one-sector productive overlapping generations model with environment where a CES technology is assumed. Relying on numerical and geometrical approaches, various dynamic properties of the proposed model are explored: the existence of the phenomenon of multistability or the coexistence of different attractors was demonstrated. Finally,(More)
In this paper, we propose a financial market model with heterogeneous speculators, i.e., optimistic and pessimistic fundamentalists that, respectively, overestimate and underestimate the true fundamental value due to ambiguity in the stock market, which prevents them from relying on the true fundamental value in their speculations. Indeed, we assume that(More)
In this paper, we investigate the dynamic properties of an overlapping generations' model with capital accumulation, in which agents work in both periods of life. We compare three different expectation mechanisms: perfect foresight, myopic foresight, and adaptive expectations, focusing, in particular, on this last one. We show that the steady state is the(More)
In the present paper, we consider a nonlinear financial market model in which, in order to decrease the complexity of the dynamics and to achieve price stabilization, we introduce a price variation limiter mechanism, which in each period bounds the price variation so that the current price is forced to belong to a certain interval determined by the price(More)