EconPapers    
Economics at your fingertips  
 

Synchronization and On-Off Intermittency Phenomena in a Market Model with Complementary Goods and Adaptive Expectations

Bignami Fernando () and Anna Agliari ()
Additional contact information
Bignami Fernando: Università Cattolica del Sacro Cuore

Studies in Nonlinear Dynamics & Econometrics, 2010, vol. 14, issue 2, 1-31

Abstract: In this paper we point out some features of the dynamical models describing the interaction of two similar agents competing in a market. Such models are fitted by a two-dimensional map symmetric with respect to the diagonal, i.e., such that M(x,y)=M(y,x). In particular we shall consider a model describing the strategic behavior of two firms that produce complementary goods and have adaptive expectations.The aim of the paper is the analysis of the trajectories generated by the iteration of M starting from different initial conditions. In particular we are interested in two different problems arising in such a situation. First, we analyze the conditions that allow an agent to reach a favourable position (in terms of its profit) in the long run. Second we investigate the mechanisms that lead the agents to behave in the same way in the long run (synchronization) and the phenomena associated with these particular situations, such as the on-off intermittency.

Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://www.degruyter.com/view/j/snde.2010.14.2/sn ... .1696.xml?format=INT (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:sndecm:v:14:y:2010:i:2:n:5

Ordering information: This journal article can be ordered from
https://www.degruyter.com/view/j/snde

Access Statistics for this article

Studies in Nonlinear Dynamics & Econometrics is currently edited by Bruce Mizrach

More articles in Studies in Nonlinear Dynamics & Econometrics from De Gruyter
Bibliographic data for series maintained by Peter Golla ().

 
Page updated 2020-07-04
Handle: RePEc:bpj:sndecm:v:14:y:2010:i:2:n:5