Three-country trade relations: a discrete dynamic game approach

Date
1996
Authors
Özyıldırım, S.
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Source Title
Computers & Mathematics with Applications
Print ISSN
0898-1221
Electronic ISSN
1873-7668
Publisher
Elsevier
Volume
32
Issue
5
Pages
43 - 56
Language
English
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Abstract

A three-country, two-bloc trade model is used to determine the impact of a coalition within the blocs on the optimal pricing policies of the bloc. It is shown in a North-South world where the South has to cooperate for efficient pricing policy. In addition to the complexities of interactions between three countries, a dynamic game approach leads to the usage of numerical methods in this paper. We used a new algorithm based on adaptive search procedure called genetic algorithm to optimize strategies for three-person discrete dynamic games. Welfare implications are also addressed.

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