Dynamics of a Cournot duopoly game with bounded rationality based on relative profit maximization

A. A. Elsadany

doi:10.1016/j.amc.2016.09.018

Dynamics of a Cournot duopoly game with bounded rationality based on relative profit maximization

A. A. Elsadany

Suez Canal University

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

153 Scopus citations

Abstract

The dynamics of a Cournot duopoly with relative profits maximizations and costs function with externalities is considered. Results concerning the equilibria of the economic model and their stability are presented and the occurrence of bifurcations is stated. A double route to chaotic dynamics, via flip bifurcations and via Neimark–Sacker bifurcations for game is studied. Numerical experiments are presented.

Original language	English
Pages (from-to)	253-263
Number of pages	11
Journal	Applied Mathematics and Computation
Volume	294
DOIs	https://doi.org/10.1016/j.amc.2016.09.018
State	Published - 1 Feb 2017
Externally published	Yes

Keywords

Bifurcation
Boundedly rational players
Chaos
Cournot game
Nash Equilibrium point
Relative profit maximization

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10.1016/j.amc.2016.09.018

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title = "Dynamics of a Cournot duopoly game with bounded rationality based on relative profit maximization",

abstract = "The dynamics of a Cournot duopoly with relative profits maximizations and costs function with externalities is considered. Results concerning the equilibria of the economic model and their stability are presented and the occurrence of bifurcations is stated. A double route to chaotic dynamics, via flip bifurcations and via Neimark–Sacker bifurcations for game is studied. Numerical experiments are presented.",

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AB - The dynamics of a Cournot duopoly with relative profits maximizations and costs function with externalities is considered. Results concerning the equilibria of the economic model and their stability are presented and the occurrence of bifurcations is stated. A double route to chaotic dynamics, via flip bifurcations and via Neimark–Sacker bifurcations for game is studied. Numerical experiments are presented.

KW - Bifurcation

KW - Boundedly rational players

KW - Chaos

KW - Cournot game

KW - Nash Equilibrium point

KW - Relative profit maximization

UR - https://www.scopus.com/pages/publications/84988918984

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JO - Applied Mathematics and Computation

JF - Applied Mathematics and Computation

ER -

Dynamics of a Cournot duopoly game with bounded rationality based on relative profit maximization

Abstract

Keywords

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