GLOBAL BIFURCATIONS IN DUOPOLY WHEN THE COURNOT POINT IS DESTABILIZED VIA A SUBCRITICAL NEIMARK BIFURCATION

Anna Agliari (), Laura Gardini () and Tonu Puu ()
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Tonu Puu: Dep. Economics University of Umea, Umea SE-90187, Sweden

International Game Theory Review (IGTR), 2006, vol. 08, issue 01, 1-20

Abstract: An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which precede the Neimark bifurcation, and produce other attractors which coexist with the still attractive Cournot fixed point.

Keywords: Duopoly model; Subcritical Neimark bifurcation; Border collision bifurcation; Subject Classification: 37N40; Subject Classification: 70K; Subject Classification: 37G99 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (22)

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DOI: 10.1142/S0219198906000758

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