Titlebook: Dynamic Economic Problems with Regime Switches; Josef L. Haunschmied,Raimund M. Kovacevic,Vladimir Book 2021 Springer Nature Switzerland A

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1566-0419 ations in economics and finance.Utilises the most advanced mThis book presents the state of the art in the relatively new field of dynamic economic modelling with regime switches. The contributions, written by prominent scholars in the field, focus on dynamic decision problems with regime changes in

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Die Dynamik von Konkurrenz und Kooperationing, at low levels (i.e., at the beginning) and at high level to decreasing. This set up renders individual as well as collective decisions, planned or as a market outcome, non-trivial. We suggest, formulate (and partly solve) problems about individual and collective behavior of scientists and study the conditions that a field emerges.

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On the Structure and Regularity of Optimal Solutions in a Differential Game with Regime Switching apoint out cases where these solutions cannot be obtained via the application of maximum principle. We demonstrate that our approach that is based on an extension of the classical maximum principle agrees with the intuition given by the hybrid maximum principle while being more convenient for solving problems at hand.

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Die Dynamik von Konkurrenz und Kooperationments such as repression, redistribution, and gradual democratization. Other dynamic games involving regime shifts that we survey include games of resource exploitation and games in industrial organization theory (R&D races, sabotage against rivals to prevent entry). We compare regime shifts under a Big Push and gradual regime changes.

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Lösungsorientierte Gesprächsführung a cooperative regime with the associated joint optimization of the sum of the individual payoffs. Using theoretical analysis and numerical exercises, we study the optimal switching strategy from competition to cooperation. We also discuss reverse switching.