Controls of the complex dynamics of a multi-market Cournot model

E. Ahmed and M.F. Elettreby

Economic Modelling, 2014, vol. 37, issue C, 251-254

Abstract: In this paper, a multi-market Cournot game is proposed based on a specific inverse demand function. The game is studied statically and dynamically. 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 carried out on the model to detect the stability and instability conditions of the system's Nash equilibrium. Based on that analysis some dynamic phenomena such as bifurcation and chaos are found. Under certain assumption, chaos control is performed in order to control the monopolistic model. Furthermore, a dynamic multi-market Cournot model is introduced.

Keywords: Cournot; Bounded rationality; Steady state; Stability; Bifurcation; Chaos (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:37:y:2014:i:c:p:251-254

DOI: 10.1016/j.econmod.2013.11.016

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