On the dynamics of Kopel’s Cournot duopoly model

J.S. Cánovas and M. Muñoz-Guillermo

Applied Mathematics and Computation, 2018, vol. 330, issue C, 292-306

Abstract: In this paper we study the duopoly model proposed by M. Kopel [26], where two firms compete “a la Cournot” and the reaction curves have a higher degree of coupling in the sense that firms have to make their choices simultaneously. We will make a descriptive analysis of the two-dimensional model, making an approach through particular situations. On the other hand, when the firms are homogeneous a one-dimensional invariant subset is present in the model. We will give an analytical proof of the existence of a (topological) chaotic behavior for a wide range of parameter values and we will study when chaotic synchronization and collusion occur.

Keywords: Economic dynamics; Topological entropy; Kopel’s Cournot duopoly; Chaos (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eee:apmaco:v:330:y:2018:i:c:p:292-306

DOI: 10.1016/j.amc.2018.02.043

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