Equilibrium further studied for combined system of Cournot and Bertrand: a differential approach

DOI10.1155/2020/3160658MaRDI QIDQ2658447zbMATH OpenOpenAlexFDO

Authors Bingyuan Gao, Yueping Du

Publication date 22 March 2021

Published in Complexity (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1155/2020/3160658

Mathematics Subject Classification ID

Special types of economic markets (including Cournot, Bertrand) (91B54)

Review text

Summary: In general, quantity competition and price competition exist simultaneously in a dynamic economy system. Whether it is quantity competition or price competition, when there are more than three companies in one market, the equilibrium points will become chaotic and are very difficult to be derived. This paper considers generally dynamic equilibrium points of combination of the Bertrand model and Cournot model. We analyze general equilibrium points of the Bertrand model and Cournot model, respectively. A general equilibrium point of the combination of the Cournot model and Bertrand model is further investigated in two cases. The theory of spatial agglomeration and intermediate value theorem are introduced. In addition, the stability of equilibrium points is further illustrated on celestial bodies motion. The results show that at least a general equilibrium point exists in combination of Cournot and Bertrand. Numerical simulations are given to support the research results.

Recommendations

• Exploring general equilibrium points for Cournot model
• The stability of a dynamic duopoly Cournot-Bertrand game model
• On Cournot-Bertrand competition with differentiated products
• STABILITY OF EQUILIBRIUM IN BERTRAND AND COURNOT DUOPOLIES
• The complex phenomena and the chaos control of Bertrand model

Cites work

• A note on price and quantity competition in differentiated oligopolies
• Chaos in duopoly pricing
• Complexity analysis of a Cournot-Bertrand duopoly game with different expectations
• Cournot competition and spatial agglomeration revisited.
• Cournot vs. Bertrand under relative performance delegation: implications of positive and negative network externalities
• Cournot-Bertrand comparison in a mixed oligopoly
• Does Cournot competition yield spatial agglomeration?
• Duopoly with price and quantity as strategic variables
• Equilibrium in Hotelling's Model of Spatial Competition
• Equilibrium prices in the Bertrand and Cournot oligopolies
• Existence and uniqueness of solutions for Bertrand and Cournot mean field games
• Exploration of complex dynamics for Cournot oligopoly game with differentiated products
• Exploring general equilibrium points for Cournot model
• Linear-quadratic mean field games
• Nonlinear complex dynamics of carbon emission reduction Cournot game with bounded rationality
• Nonlinear dynamics of a Cournot duopoly game with differentiated products
• On Bertrand duopoly game with differentiated goods
• On Hotelling's "Stability in Competition"
• On the efficiency of Bertrand and Cournot equilibria with product differentiation
• Price vs. quantity competition in a vertically related market
• Spatial oligopoly as a noncooperative game
• Study on triopoly dynamic game model based on different demand forecast methods in the market
• The impact of cost uncertainty on Cournot oligopoly games

Cited in

(4)

• Exploring general equilibrium points for Cournot model
• The stability of a dynamic duopoly Cournot-Bertrand game model
• Can Bertrand and Cournot oligopolies be combined?
• Nonlinear dynamics of Cournot duopoly game: when one firm considers social welfare

This page was built for publication: Equilibrium further studied for combined system of Cournot and Bertrand: a differential approach

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2658447)