| 1. |
- Canovas, Jose S, et al.
(author)
-
Detecting Chaos in a Duopoly Model via Symbolic Dynamics
- 2010
-
In: Discrete and continuous dynamical systems. Series B. - Springfield, USA : American Institute of Mathematical Sciences. - 1531-3492 .- 1553-524X. ; 13:2, s. 269-278
-
Journal article (peer-reviewed)abstract
- This paper considers a Cournot duopoly model assuming isoelastic demand and smooth cost functions with built-in capacity limits. When the firms cannot obtain positive profits they are assumed to choose small "stand-by" outputs rather than closing down, in order to avoid substantial fitting up costs when market conditions turnout more favorable. It is shown that the model provides chaotic behavior. In particular, the system has positive topological entropy and hence the map is chaotic in the Li-Yorke sense. Moreover, chaos is not only topological but also physically observable.
|
|
| 2. |
|
|
| 3. |
- Puu, Tönu, 1936-, et al.
(author)
-
The dynamics of a triopoly Cournot game when the competitors operate under capacity constraints
- 2006
-
In: Chaos, Solitons & Fractals. - : Elsevier BV. - 0960-0779 .- 1873-2887. ; 28:2, s. 403-413
-
Journal article (peer-reviewed)abstract
- This article considers Cournot oligopoly with three competitors, given an iso-elastic demand function, and cost functions that asymptotically go to infinity when capacity limits are approached. It is shown that for some parameter values (capacity limits) the Cournot equilibrium point loses stability through a Neimark-Sacker bifurcation. In addition global bifurcation scenarios are simulated numerically, and some are illustrated through Arnol'd tongues in the parameter plane.
|
|
