Geodesic
Strategic Trade Between Two Countries - Exploring the Case of Partial Local Consumer Protection
Serdica Journal of Computing, Tome 11 (2017) no. 1, pp. 031-043 Cet article a éte moissonné depuis la source Bulgarian Digital Mathematics Library

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The paper develops a dynamic model of trade between two countries where the trading entities interact in a strategic context. Consumers in both countries are endowed with certain incomes and try to acquire as much as possible of the quantities available on the markets. Consumers have privileged access to some of the good supplied locally, a form of partial local protection. Over time, prices are adjusted to respond to the outcomes of trading. For this setup, we prove the existence of Nash equilibria and simulate the model numerically in Python to illustrate the possibility of obtaining different types of price dynamics depending on the price adjustment rule used. ACM Computing Classification System (1998): J4, G4, I.6.3.
Keywords: Trade Models, Nash Equilibrium, Difference Equations 
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     title = {Strategic {Trade} {Between} {Two} {Countries} - {Exploring} the {Case} of {Partial} {Local} {Consumer} {Protection}},
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Iordanov, Iordan; Vassilev, Andrey. Strategic Trade Between Two Countries - Exploring the Case of Partial Local Consumer Protection. Serdica Journal of Computing, Tome 11 (2017) no. 1, pp. 031-043. http://geodesic.mathdoc.fr/item/SJC_2017_11_1_a2/