Chaos and Control of Game Model Based on Heterogeneous Expectations in Electric Power Triopoly

Weizhuo Ji

Discrete Dynamics in Nature and Society, 2009, vol. 2009, 1-8

Abstract:

A dynamic repeated game model has been established based on heterogeneous expectations in electric power triopoly. Theoretical analysis and numerical simulation show the complexity of this model; suppose that the producers make decisions with naive expectation and bounded rationality. The straight-line stabilization chaos control method was successfully applied to the dynamic repeated game model. The results have important practical value for the producers in the electric power oligopoly.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnddns:469564

DOI: 10.1155/2009/469564

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