Local and global analysis of a nonlinear duopoly game with heterogeneous firms
نویسندگان
چکیده
منابع مشابه
Nonlinear dynamics in the Cournot duopoly game with heterogeneous players
We analyze a nonlinear discrete-time Cournot duopoly game, where players have heterogeneous expectations. Two types of players are considered: boundedly rational and naive expectations. In this study we show that the dynamics of the duopoly game with players whose beliefs are heterogeneous, may become complicated. The model gives more complex chaotic and unpredictable trajectories as a conseque...
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A dynamic Cournot duopoly game, characterized by finns with bounded rationality, is represented by a discrete-time dynamical system of the plane. Conditions ensuring the local stability ofa Nash equilibrium, under a local (or myopic) adjustment process, are given, and the influence ofmarginal costs and speeds ofadjustment of the two finns on stability is studied. The stability loss ofthe Nash e...
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We make a further attempt to investigate equilibrium stability of a nonlinear Cournot duopoly game with adaptive adjustment toward best reply by assuming heterogeneous firms where one firm only uses naive expectations whereas the other employs a simple forecast technology to form sophisticated expectations. More precisely, based on the knowledge of actual production of the competitor and its ac...
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We study a heterogeneous duopolistic Cournotian game, in which the firms, producing a homogeneous good, have reduced rationality and respectively adopt a ‘‘Local Monopolistic Approximation’’ (LMA) and a gradient-based approach with endogenous reactivity, in an economy characterized by isoelastic demand function and linear total costs. We give conditions on reactivity and marginal costs under wh...
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Article history: Accepted 22 April 2013 JEL classification: C62 C68 D43 D21 L13 L25
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ژورنال
عنوان ژورنال: Advances in Difference Equations
سال: 2020
ISSN: 1687-1847
DOI: 10.1186/s13662-020-03144-4