On complex dynamics of monopoly market

S.S. Askar

Economic Modelling, 2013, vol. 31, issue C, 586-589

Abstract: The equilibrium state of a bounded rational monopolist model is studied in this paper. It is assumed that the entire demand function is considered based on some market experiments to produce a quantity which maximizes profit. The stability of equilibrium state of the model is discussed. In addition, some complex dynamical behaviours of the model are illustrated.

Keywords: Monopoly; Bounded rationality; Steady state; Stability; Bifurcation; Chaos (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:31:y:2013:i:c:p:586-589

DOI: 10.1016/j.econmod.2012.12.025

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