Study and Simulation on Discrete Dynamics of Bertrand Triopoly Team-Game

Lijian Sun and Junhai Ma

Mathematical Problems in Engineering, 2015, vol. 2015, 1-12

Abstract:

A Bertrand Triopoly team-game model is considered in which two firms with bounded rational expectations make up a cooperative team and allocate common profits proportionate to their marketing strength. The existence and three-dimensional stable regions of the fixed points are investigated. Complex effects of on bifurcation scenarios and profits are displayed by parameter basin plots and average profits charts. Impact of assigning weight on stable regions, 2D-bifurcation phase portraits, and the average profits is investigated. We find and can cause chaos; chaos resulting from adjustment speed is harmful to all the players as for profits, while chaos resulting from is conducive to firm 3. Basins of attraction are investigated and we find that the attraction domain will become smaller with increase of price modification speed.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:960380

DOI: 10.1155/2015/960380

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