Complex Dynamics in Nonlinear Triopoly Market with Different Expectations

Junhai Ma and Xiaosong Pu

Discrete Dynamics in Nature and Society, 2011, vol. 2011, 1-12

Abstract:

A dynamic triopoly game characterized by firms with different expectations is modeled by three-dimensional nonlinear difference equations, where the market has quadratic inverse demand function and the firm possesses cubic total cost function. The local stability of Nash equilibrium is studied. Numerical simulations are presented to show that the triopoly game model behaves chaotically with the variation of the parameters. We obtain the fractal dimension of the strange attractor, bifurcation diagrams, and Lyapunov exponents of the system.

Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://downloads.hindawi.com/journals/DDNS/2011/902014.pdf (application/pdf)
http://downloads.hindawi.com/journals/DDNS/2011/902014.xml (text/xml)

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:hin:jnddns:902014

DOI: 10.1155/2011/902014

Access Statistics for this article

More articles in Discrete Dynamics in Nature and Society from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem ().