Georges Sarafopoulos

• Professor
• Democritus University of Thrace

In this paper we study the impact of information on the stability of a dynamic Cournot – type duopoly game. We suppose that one player searches for information about his rival before he makes his decision. We study how the amount of information acquired by player, influences the stability of Nash equilibrium. The game is modeled with a system of tw...

The present study extends Fanti, Gori, 2012 (L. Fanti, L. Gori, 2012. The dynamics of a differentiated duopoly with quantity competition, Economic Modelling, 29, 421-427). In this study we investigate the dynamics of a nonlinear discrete-time duopoly game with differentiated goods, linear demand and quadratic cost functions. The game is modeled wit...

In this paper we extend the work done by Askar, 2013. (Askar, S.S., 2013. On complex dynamics of monopoly market, Economic Modelling, 31, 586-589). The equilibrium state of a bounded rational monopolist model is studied. It is assumed that the entire demand has a general non-linear form and the cost function is quadratic. The equilibrium of the mod...

In this study we investigate the dynamics of a nonlinear discrete-time duopoly game, where the players have homogeneous expectations. We suppose that the cost function is quadratic and the demand is a convex and log- linear function. The game is modeled with a system of two difference equations. Existence and stability of equilibria of this system...

Cooperation among neighboring local governments determines the final outcome of local economic activity. Every local governmental unity tries to maximize its local welfare in order to improve living standards for population. Respectively, regions seek to adopt strategies by using available resources so that their productive circuit to be competitiv...

The paper considers the interaction between regions during the implementation of a reform, on regional development through a discrete dynamical system based on replicator dynamics. The existence and stability of equilibria of this system are studied. The authors show that the parameter of the local prosperity may change the stability of equilibrium...

In this study we investigate the dynamics of a nonlinear discrete-time duopoly game, where the players have heterogeneous expectations linear demand and quadratic cost functions. Two players with different expectations are considered; one is boundedly rational and the other thinks with adaptive expectations. We show that the model gives more comple...

The aim of this paper is to examine the strategies of cooperation and conflict adopted by two dominant local agents in order to maximize their payoffs. Research uses as methodological tool a signal game that informs actors about potential gains and risks. Two actors support the game, namely local government with a high level of competences, and a l...

The paper studies the process of local economic growth in the period just after the implementation of a local government institutional reform. Cooperation is a basic determinant for upgrading local economic activity especially in lagged regions. The methodology that is used in order to analyse the options of local development is game theory. The an...

The paper considers the evolution of institutional reforms in a region during the implementation of a reform, on regional development. For this purpose we use a discrete difference equation. The existence and stability of equilibria are studied. We show that the slope of the tax function may change the stability of equilibrium and cause a structure...

The paper considers the interaction between regions during the implementation of a reform, on regional development through a discrete dynamical system based on replicator dynamics. The existence and stability of equilibria of this system are studied. We show that the parameter of the local prosperity may change the stability of equilibrium and caus...