The Birth of Limit Cycles in Nonlinear Oligopolies with Continuously Distributed Information Lags

Carl Chiarella and Ferenz Szidarovszky

No 87, Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: The dynamic behaviour of the output in nonlinear oligopolies is examined when the equilibrium is locally unstable. Continuously distributed time lags are assumed in obtaining information about "rivals" output as well as in obtaining or implementing information about the firms' own output. The Hopf bifurcation theorem is used to find conditions under which limit cycle motion is born. In addition to the classical Cournot model, labor managed and rent seeking oligopolies are also investigated.

Pages: 28 pages
Date: 1999-08-01
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Citations: View citations in EconPapers (2)

Published as: Chiarella, C. and Szidarovszky, F., 2005, "The Birth of Limit Cycles in Nonlinear Oligopolies with Continuously Distributed Information Lags", In Moshe Dror, Pierre L’Ecuyer and Ferenc Szidarovszky (eds) Modeling Uncertainty: An Examination of Stochastic Theory, Methods, and Applications, International Series in Operations Research & Management Science, Volume 46, 249.268.

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Chapter: The Birth of Limit Cycles in Nonlinear Oligopolies with Continuously Distributed Information Lags (2002)
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