股份制企业微分博弈动态模型

Dynamic model of corporate firms in differential games

借鉴微分对策的思想 ,结合最优控制理论中 Pon-tryagin极大值原理和 van L oon路径耦合方法 ,研究了两家股份制企业之间不断协调和相互适应的博弈过程 ;突破了传统 Cournot模型只能进行均衡分析的局限性。参与博弈的企业通过股利分红策略、资本投资策略以及债务还贷策略在产品市场和资本市场上交互作用 ,促使系统螺旋式演进。模型揭示出丰富的动力学内涵有利于对股份制企业机理的探索 。

A dynamic corporate firm model was developed for differential games, with the Maximum Principle of Pontryagin combined with the path coupling procedure of van Loon to analyze the coordinating and adapting processes of the firms in games. The model overcomes the equilibrium analysis limit in the Cournot model. Corporate firms in games adjust dividends, investments, and debt in both the product market and the capital market. These changes interact with each other and push the evolution of the whole system. The dynamics of the model illustrates corporate decision making and their competitive behaviors in the market.