A continuous-time heterogeneous duopoly model with delays
Serena Brianzoni (),
Giovanni Campisi and
Luca Guerrini ()
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Serena Brianzoni: Polytechnic University of Marche
Luca Guerrini: Polytechnic University of Marche
Decisions in Economics and Finance, 2018, vol. 41, issue 2, No 9, 259-275
Abstract In this paper, the continuous-time version with delays of the model of Tramontana (Econ Model 27(1):350–357, 2010) is presented. The stability of the equilibrium point is discussed by analyzing the distribution of roots of associated characteristic equation. It is found that combining marginal costs with time delays gives rise to different economic scenarios, where stability switches may appear and Hopf bifurcations occur within certain range of parameters.
Keywords: Heterogeneous players; Duopoly model; Time delay (search for similar items in EconPapers)
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