Analysis of Price Stackelberg Duopoly Game with Bounded Rationality
Joint Authors
Le, Yun
Sheng, Zhaohan
Shi, Lian
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-8, 8 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-02-17
Country of Publication
Egypt
No. of Pages
8
Main Subjects
Abstract EN
The classical Stackelberg game is extended to boundedly rational price Stackelberg game, and the dynamic duopoly game model is described in detail.
By using the theory of bifurcation of dynamical systems, the existence and stability of the equilibrium points of this model are studied.
And some comparisons with Bertrand game with bounded rationality are also performed.
Stable region, bifurcation diagram, The Largest Lyapunov exponent, strange attractor, and sensitive dependence on initial conditions are used to show complex dynamic behavior.
The results of theoretical and numerical analysis show that the stability of the price Stackelberg duopoly game with boundedly rational players is only relevant to the speed of price adjustment of the leader and not relevant to the follower’s.
This is different from the classical Cournot and Bertrand duopoly game with bounded rationality.
And the speed of price adjustment of the boundedly rational leader has a destabilizing effect on this model.
American Psychological Association (APA)
Shi, Lian& Le, Yun& Sheng, Zhaohan. 2014. Analysis of Price Stackelberg Duopoly Game with Bounded Rationality. Discrete Dynamics in Nature and Society،Vol. 2014, no. 2014, pp.1-8.
https://search.emarefa.net/detail/BIM-471490
Modern Language Association (MLA)
Shi, Lian…[et al.]. Analysis of Price Stackelberg Duopoly Game with Bounded Rationality. Discrete Dynamics in Nature and Society No. 2014 (2014), pp.1-8.
https://search.emarefa.net/detail/BIM-471490
American Medical Association (AMA)
Shi, Lian& Le, Yun& Sheng, Zhaohan. Analysis of Price Stackelberg Duopoly Game with Bounded Rationality. Discrete Dynamics in Nature and Society. 2014. Vol. 2014, no. 2014, pp.1-8.
https://search.emarefa.net/detail/BIM-471490
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-471490