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Exploration of Complex Dynamics for Cournot Oligopoly Game with Differentiated Products
Joint Authors
El-Wakeel, Mona F.
Alrodaini, M. A.
Askar, S. S.
Source
Issue
Vol. 2018, Issue 2018 (31 Dec. 2018), pp.1-13, 13 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2018-02-13
Country of Publication
Egypt
No. of Pages
13
Main Subjects
Abstract EN
This paper proposes a Cournot game organized by three competing firms adopting bounded rationality.
According to the marginal profit in the past time step, each firm tries to update its production using local knowledge.
In this game, a firm’s preference is represented by a utility function that is derived from a constant elasticity of substitution (CES) production function.
The game is modeled by a 3-dimensional discrete dynamical system.
The equilibria of the system are numerically studied to detect their complex characteristics due to difficulty to get an explicit form for those equilibria.
For the proposed utility function, some cases with different value parameters are considered.
Numerical simulations are used to provide an experimental evidence for the complex behavior of the evolution of the system.
The obtained results show that the system loses its stability due to different types of bifurcations.
American Psychological Association (APA)
Askar, S. S.& El-Wakeel, Mona F.& Alrodaini, M. A.. 2018. Exploration of Complex Dynamics for Cournot Oligopoly Game with Differentiated Products. Complexity،Vol. 2018, no. 2018, pp.1-13.
https://search.emarefa.net/detail/BIM-1135429
Modern Language Association (MLA)
Askar, S. S.…[et al.]. Exploration of Complex Dynamics for Cournot Oligopoly Game with Differentiated Products. Complexity No. 2018 (2018), pp.1-13.
https://search.emarefa.net/detail/BIM-1135429
American Medical Association (AMA)
Askar, S. S.& El-Wakeel, Mona F.& Alrodaini, M. A.. Exploration of Complex Dynamics for Cournot Oligopoly Game with Differentiated Products. Complexity. 2018. Vol. 2018, no. 2018, pp.1-13.
https://search.emarefa.net/detail/BIM-1135429
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1135429