 Nonlinear analysis and chaos control of the complex dynamics of multi-market Cournot game with bounded rationalityLiuWei Zhao, Jianguo Du and QiWei Wang Mathematics and Computers in Simulation (MATCOM), 2019, vol. 162, issue C, 45-57 Abstract: In this work, a dynamic multi-market Cournot model is introduced based on a multi-markets’ specific inverse demand function. Puu’s incomplete information approach, as a realistic method, is used to contract the corresponding dynamical model under this function. Therefore, some stability analysis is used by the model to detect the stability and instability conditions of the system’s Nash equilibrium. Based on the analysis, some dynamic phenomena such as bifurcation and chaos are found. Numerical simulations and the Maximum Lyapunov exponent are used to provide experimental evidence for the complicated behaviors of the system evolution. It is observed that the equilibrium points of the system can loose stability via flip bifurcation or Neimark–Sacher bifurcation and time-delayed feedback control is used to stabilize the chaotic behaviors of the system. Keywords: Cournot game; Bounded rationality; Multi-market; Dynamic system; Chaos control (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:matcom:v:162:y:2019:i:c:p:45-57 DOI: 10.1016/j.matcom.2019.01.004 Access Statistics for this article Mathematics and Computers in Simulation (MATCOM) is currently edited by Robert Beauwens More articles in Mathematics and Computers in Simulation (MATCOM) from Elsevier |
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