| A STACKELBERG DIFFERENTIAL GAMES SOLUTION TO A PROBLEM OF OPTIMAL INTERTEMPORAL INVESTMENT AND TAX RATE DESIGN |
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| 作者姓名： | ZHANGRong LIUXing |
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| 作者单位： | College of Economics and Business Administration，Chongqing University，Chongqing 400030，China |
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| 基金项目： | This research is supported by the National Natural Science Fund of China(70371030，70372041，79970073)，the Postdoctoral Science Fund of China, and the Key Teacher Fund of Chongqing University. |
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| 摘 要： | Using the Stackelberg differential games(SDG) theory, we quantitatively study a problem of optimal intertemporal investment and tax rate design. Under some appropriate assumptions, the open-loop Stackelberg equilibrium solutions are obtained. Equilibrium solutions show that: 1. The optimal strategies derived from differential game and unilateral optimal control approaches are different; 2. It is not always the best strategy for the government to use a constant tax rate over the whole time period; 3. The admissible size of tax rate adjustment may have great effect on the government's optimal strategy; 4. SDG approach has no significant effect on the firm's optimal investment strategy.
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| 关 键 词： | Stackelberg微分对策 税率设计 SDG 投资 平衡解 |
A STACKELBERG DIFFERENTIAL GAMES SOLUTION TO A PROBLEM OF OPTIMAL INTERTEMPORAL INVESTMENT AND TAX RATE DESIGN |
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| ZHANGRong LIUXing.A STACKELBERG DIFFERENTIAL GAMES SOLUTION TO A PROBLEM OF OPTIMAL INTERTEMPORAL INVESTMENT AND TAX RATE DESIGN[J].Journal of Systems Science and Complexity,2004,17(2):253-261. |
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| Authors: | ZHANG Rong LIU Xing |
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| Abstract: | Using the Stackelberg differential games(SDG) theory, we quantitatively study a problem of optimal intertemporal investment and tax rate design. Under some appropriate assumptions, the open-loop Stackelberg equilibrium solutions are obtained. Equilibrium solutions show that: 1. The optimal strategies derived from differential game and unilateral optimal control approaches are different; 2. It is not always the best strategy for the government to use a constant tax rate over the whole time period; 3. The admissible size of tax rate adjustment may have great effect on the government's optimal strategy; 4. SDG approach has no significant effect on the firm's optimal investment strategy. |
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| Keywords: | Stackelberg differential game tax rate design optimal investment |
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