On algorithms of a determination of equilibrium states of an open economy under presence of monopolies

Authors

DOI:

https://doi.org/10.20535/SRIT.2308-8893.2016.4.10

Keywords:

equilibrium, demand, supply, taxation, monopolies, price formation

Abstract

There is an open economy created by insatiable consumers. The part of consumers can product own goods. The equilibrium principles are of a Walrasian type. The model uses the approach of an economy with regular interests of consumers. There is an algorithm for solving the equilibrium problem. The algorithm takes into account a possibility of consumers interests of subjects of the economy depended on additional characteristics. Obtained limitations of model characteristics of the economy prove an equilibrium existence. The characteristics of discovered equilibrium states belong to a defined area of values. The relation between a selection of a taxation strategy and the realization of a particular equilibrium state is indicated.

Author Biography

Andrii P. Makhort, Bogolyubov Institute for Theoretical Physics, Kyiv, Ukraine

Andrii Phylypovych Makhort,

Ph.D., senior researcher of Bogolyubov Institute for Theoretical Physics, Kyiv, Ukraine.

References

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Published

2016-12-15

Issue

Section

Decision making and control in economic, technical, ecological and social systems