Competition analysis of a triopoly game with bounded rationality |
| |
| Authors: | AA Elsadany |
| |
| Institution: | 1. Johannes Kepler University, Linz, Austria;2. University of Kent, Canterbury, United Kingdom;1. College of Computer Science, Sichuan University, Chengdu 610065, China;2. School of Control Engineering, Chengdu University of Information Technology, Chengdu 610225,China |
| |
| Abstract: | A dynamic Cournot game characterized by three boundedly rational players is modeled by three nonlinear difference equations. The stability of the equilibria of the discrete dynamical system is analyzed. As some parameters of the model are varied, the stability of Nash equilibrium is lost and a complex chaotic behavior occurs. Numerical simulation results show that complex dynamics, such as, bifurcations and chaos are displayed when the value of speed of adjustment is high. The global complexity analysis can help players to take some measures and avoid the collapse of the output dynamic competition game. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
