Analysis of the dynamics of multi-team Bertrand game with heterogeneous players

Zhanwen Ding, Qinglan Hang and Honglin Yang

International Journal of Systems Science, 2011, vol. 42, issue 6, 1047-1056

Abstract: In this article, we study the dynamics of a two-team Bertrand game with players having heterogeneous expectations. We study the equilibrium solutions and the conditions of their locally asymptotic stability. Numerical simulations are used to illustrate the complex behaviours of the proposed model of the Bertrand game. We demonstrate that some parameters of the model have great influence on the stability of Nash equilibrium and on the speed of convergence to Nash equilibrium. The chaotic behaviour of the model has been controlled by using feedback control method.

Date: 2011
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DOI: 10.1080/00207720903296022

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