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The Impact of Cost Uncertainty on Cournot Duopoly Game with Concave Demand Function
Author
Source
Journal of Applied Mathematics
Issue
Vol. 2013, Issue 2013 (31 Dec. 2013), pp.1-5, 5 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2013-11-26
Country of Publication
Egypt
No. of Pages
5
Main Subjects
Abstract EN
It is reported in the literature that the most fundamental idea to address uncertainty is to begin by condensing random variables.
In this paper, we propose Cournot duopoly game where quantity-setting firms use nonlinear demand function that has no inflection points.
A random cost function is introduced in this model.
Each firm in the model wants to maximize its expected profit and also wants to minimize its uncertainty by minimizing the cost.
To handle this multiobjective optimization problem, the expectation and worst-case approaches are used.
A model of two rational firms that are in competition and produce homogenous commodities is introduced using an unknown demand function.
The equilibrium points of this model are obtained and their dynamical characteristics such as stability, bifurcation, and chaos are investigated.
Complete stability and bifurcation analysis are provided.
The obtained theoretical results are verified by numerical simulation.
American Psychological Association (APA)
Askar, S. S.. 2013. The Impact of Cost Uncertainty on Cournot Duopoly Game with Concave Demand Function. Journal of Applied Mathematics،Vol. 2013, no. 2013, pp.1-5.
https://search.emarefa.net/detail/BIM-499869
Modern Language Association (MLA)
Askar, S. S.. The Impact of Cost Uncertainty on Cournot Duopoly Game with Concave Demand Function. Journal of Applied Mathematics No. 2013 (2013), pp.1-5.
https://search.emarefa.net/detail/BIM-499869
American Medical Association (AMA)
Askar, S. S.. The Impact of Cost Uncertainty on Cournot Duopoly Game with Concave Demand Function. Journal of Applied Mathematics. 2013. Vol. 2013, no. 2013, pp.1-5.
https://search.emarefa.net/detail/BIM-499869
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-499869