Complex dynamics in nonlinear triopoly market with different expectations (Q764567)

From MaRDI portal
scientific article
Language Label Description Also known as
English
Complex dynamics in nonlinear triopoly market with different expectations
scientific article

    Statements

    Complex dynamics in nonlinear triopoly market with different expectations (English)
    0 references
    0 references
    0 references
    13 March 2012
    0 references
    Summary: A dynamic triopoly game characterized by firms with different expectations is modeled by three-dimensional nonlinear difference equations, where the market has quadratic inverse demand function and the firm possesses cubic total cost function. The local stability of Nash equilibrium is studied. Numerical simulations are presented to show that the triopoly game model behaves chaotically with the variation of the parameters. We obtain the fractal dimension of the strange attractor, bifurcation diagrams, and Lyapunov exponents of the system.
    0 references

    Identifiers