A classical problem on optimal choice of tax rate from the perspective of differential game approach is studied. Under some appropriate assumptions on the profit and utility functions, the open-loop Stackelberg equili...A classical problem on optimal choice of tax rate from the perspective of differential game approach is studied. Under some appropriate assumptions on the profit and utility functions, the open-loop Stackelberg equilibrium solution which is time- dependent is obtained. Result shows that 1) the optimal strategies derived from differential game and traditional unilateral optimal control approaches are different; 2) both marginal profit rate and the market rate of interest have great effect on the equilibrium solution; and 3) the government should think about the firm’s potential reaction when selecting tax rates and the timing of taxation.展开更多
The authors discuss one type of general forward-backward stochastic differential equations (FBSDEs) with Ito's stochastic delayed equations as the forward equations and anticipated backward stochastic differential...The authors discuss one type of general forward-backward stochastic differential equations (FBSDEs) with Ito's stochastic delayed equations as the forward equations and anticipated backward stochastic differential equations as the backward equations.The existence and uniqueness results of the general FBSDEs are obtained.In the framework of the general FBSDEs in this paper,the explicit form of the optimal control for linear-quadratic stochastic optimal control problem with delay and the Nash equilibrium point for nonzero sum differential games problem with delay are obtained.展开更多
文摘A classical problem on optimal choice of tax rate from the perspective of differential game approach is studied. Under some appropriate assumptions on the profit and utility functions, the open-loop Stackelberg equilibrium solution which is time- dependent is obtained. Result shows that 1) the optimal strategies derived from differential game and traditional unilateral optimal control approaches are different; 2) both marginal profit rate and the market rate of interest have great effect on the equilibrium solution; and 3) the government should think about the firm’s potential reaction when selecting tax rates and the timing of taxation.
基金Project supported by the 973 National Basic Research Program of China (No. 2007CB814904)the National Natural Science Foundations of China (No. 10921101)+2 种基金the Shandong Provincial Natural Science Foundation of China (No. 2008BS01024)the Science Fund for Distinguished Young Scholars of Shandong Province (No. JQ200801)the Shandong University Science Fund for Distinguished Young Scholars(No. 2009JQ004)
文摘The authors discuss one type of general forward-backward stochastic differential equations (FBSDEs) with Ito's stochastic delayed equations as the forward equations and anticipated backward stochastic differential equations as the backward equations.The existence and uniqueness results of the general FBSDEs are obtained.In the framework of the general FBSDEs in this paper,the explicit form of the optimal control for linear-quadratic stochastic optimal control problem with delay and the Nash equilibrium point for nonzero sum differential games problem with delay are obtained.
