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

A.A. Elsadany

Applied Mathematics and Computation, 2017, vol. 294, issue C, 253-263

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.

Keywords: Cournot game; Relative profit maximization; Boundedly rational players; Nash Equilibrium point; Bifurcation; Chaos (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:apmaco:v:294:y:2017:i:c:p:253-263

DOI: 10.1016/j.amc.2016.09.018

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