Competition analysis of a triopoly game with bounded rationality

A. A. Elsadany

doi:10.1016/j.chaos.2012.07.003

Competition analysis of a triopoly game with bounded rationality

A. A. Elsadany

Suez Canal University

Research output: Contribution to journal › Article › peer-review

45 Scopus citations

Abstract

A dynamic Cournot game characterized by three boundedly rational players is modeled by three nonlinear difference equations. The stability of the equilibria of the discrete dynamical system is analyzed. As some parameters of the model are varied, the stability of Nash equilibrium is lost and a complex chaotic behavior occurs. Numerical simulation results show that complex dynamics, such as, bifurcations and chaos are displayed when the value of speed of adjustment is high. The global complexity analysis can help players to take some measures and avoid the collapse of the output dynamic competition game.

Original language	English
Pages (from-to)	1343-1348
Number of pages	6
Journal	Chaos, Solitons and Fractals
Volume	45
Issue number	11
DOIs	https://doi.org/10.1016/j.chaos.2012.07.003
State	Published - Nov 2012
Externally published	Yes

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title = "Competition analysis of a triopoly game with bounded rationality",

abstract = "A dynamic Cournot game characterized by three boundedly rational players is modeled by three nonlinear difference equations. The stability of the equilibria of the discrete dynamical system is analyzed. As some parameters of the model are varied, the stability of Nash equilibrium is lost and a complex chaotic behavior occurs. Numerical simulation results show that complex dynamics, such as, bifurcations and chaos are displayed when the value of speed of adjustment is high. The global complexity analysis can help players to take some measures and avoid the collapse of the output dynamic competition game.",

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AB - A dynamic Cournot game characterized by three boundedly rational players is modeled by three nonlinear difference equations. The stability of the equilibria of the discrete dynamical system is analyzed. As some parameters of the model are varied, the stability of Nash equilibrium is lost and a complex chaotic behavior occurs. Numerical simulation results show that complex dynamics, such as, bifurcations and chaos are displayed when the value of speed of adjustment is high. The global complexity analysis can help players to take some measures and avoid the collapse of the output dynamic competition game.

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JO - Chaos, Solitons and Fractals

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Competition analysis of a triopoly game with bounded rationality

Abstract

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