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New Analyses of Duopoly Game with Output Lower Limiters
Joint Authors
Mei, Qiang
Huang, Tingwen
Du, Jianguo
Sheng, Zhaohan
Source
Issue
Vol. 2013, Issue 2013 (31 Dec. 2013), pp.1-10, 10 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2013-02-24
Country of Publication
Egypt
No. of Pages
10
Main Subjects
Abstract EN
In the real business world, player sometimes would offer a limiter to their output due to capacity constraints, financial constraints, or cautious response to uncertainty in the world.
In this paper, we modify a duopoly game with bounded rationality by imposing lower limiters on output.
Within our model, we analyze how lower limiters have an effect on dynamics of output and give proof in theory why adding lower limiters can suppress chaos.
We also explore the numbers of the equilibrium points and the distribution of conditioned equilibrium points.
Stable region of the conditioned equilibrium is discussed.
Numerical experiments show that the output evolution system having lower limiters becomes more robust than without them, and chaos disappears if the lower limiters are big enough.
The local or global stability of the conditional equilibrium points provides a theoretical basis for the limiter control method of chaos in economic systems.
American Psychological Association (APA)
Sheng, Zhaohan& Du, Jianguo& Mei, Qiang& Huang, Tingwen. 2013. New Analyses of Duopoly Game with Output Lower Limiters. Abstract and Applied Analysis،Vol. 2013, no. 2013, pp.1-10.
https://search.emarefa.net/detail/BIM-469610
Modern Language Association (MLA)
Sheng, Zhaohan…[et al.]. New Analyses of Duopoly Game with Output Lower Limiters. Abstract and Applied Analysis No. 2013 (2013), pp.1-10.
https://search.emarefa.net/detail/BIM-469610
American Medical Association (AMA)
Sheng, Zhaohan& Du, Jianguo& Mei, Qiang& Huang, Tingwen. New Analyses of Duopoly Game with Output Lower Limiters. Abstract and Applied Analysis. 2013. Vol. 2013, no. 2013, pp.1-10.
https://search.emarefa.net/detail/BIM-469610
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-469610