An Address

Those of you who are about to graduate from the Naval war College are completign a profitable year. Under Admiral Bernard L. Austin\u27s Presidency (Naval War College , July 1960-July 1964) wise counsel and well-known instinces on academic freedom you have been given more time and better opporrtunities than most of you have had for years, to improve your knowledge of military and political affairs

United States Global Strategy

The key word in the title of these seminars is worth a moment\u27s thought. It is the term strategic. Only in the last twenty years or so has that word, along with the related word strategy, come to figure importantly in American policies toward the external world

World Order from Hiroshima to Kuwait

For the forty years of the Cold War, U.S. foreign and defense policy was guided by a central theme, a well-defined strategic objective. That goal was for the United States to lead in building a liberal economic and political world while defending that world against totalitarian communist attack. The single word best defining that policy was containment

Oligopoly with Hyperbolic Demand: A Differential Game Approach

It is well known that the equilibrium solution of oligopoly games with isoelastic demand functions can be indeterminate. I revisit this issue through an open-loop differential game approach based on the assumption of sticky prices, to show that indeterminacy arises only in steady state, in the limit case where marginal costs tend to zero. Otherwise, at any time during the game, Pontryagin’s Maximum Principle ensures the existence of a unique and well defined solution, irrespective of the size of marginal costs. Finally, I show that an analogous result holds in the feedback case, although the Bellman equation of the representative firm cannot be solved analytically

The evolution of American strategic doctrine

x, 131 hal.; 21c