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Dynamic model of interaction between the firm and its owners
N. P. Pilnikab, I. P. Stankevichb a Computing Centre of RAS
b Higher School of Economics
Abstract:
In this article model of intertemporal equilibrium of two agents (a firm-producer and a proprietor-consumer) is presented. Its distinguishing feature is the description of the firm as a joint stock company, the purpose of which is to maximize the present value of dividends paid. A complete solution for all initial conditions is obtained. It is shown that the equilibrium in the model is effective.
Keywords:
general equilibrium model, equity, intertemporal equilibrium, functional of producer.
Received: 16.07.2013
Citation:
N. P. Pilnik, I. P. Stankevich, “Dynamic model of interaction between the firm and its owners”, Mat. Model., 27:1 (2015), 65–83
Linking options:
https://www.mathnet.ru/eng/mm3564 https://www.mathnet.ru/eng/mm/v27/i1/p65
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Statistics & downloads: |
Abstract page: | 492 | Full-text PDF : | 195 | References: | 51 | First page: | 25 |
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