Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability
This paper tackles the issue of local and global analyses of a duopoly game with price competition and market share delegation. The dynamics of the economy is characterised by a differentiable two-dimensional discrete time system. The paper stresses the importance of complementarity between products...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2015-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2015/394810 |
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| _version_ | 1832561004126404608 |
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| author | Luciano Fanti Luca Gori Cristiana Mammana Elisabetta Michetti |
| author_facet | Luciano Fanti Luca Gori Cristiana Mammana Elisabetta Michetti |
| author_sort | Luciano Fanti |
| collection | DOAJ |
| description | This paper tackles the issue of local and global analyses of a duopoly game with price competition and market share delegation. The dynamics of the economy is characterised by a differentiable two-dimensional discrete time system. The paper stresses the importance of complementarity between products as a source of synchronisation in the long term, in contrast to the case of their substitutability. This means that when products are complements, players may coordinate their behaviour even if initial conditions are different. In addition, there exist multiple attractors so that even starting with similar conditions may end up generating very different dynamic patterns. |
| format | Article |
| id | doaj-art-252046c798644b75b326a8c78e01838d |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2015-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-252046c798644b75b326a8c78e01838d2025-02-03T01:26:13ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2015-01-01201510.1155/2015/394810394810Market Share Delegation in a Bertrand Duopoly: Synchronisation and MultistabilityLuciano Fanti0Luca Gori1Cristiana Mammana2Elisabetta Michetti3Department of Economics and Management, University of Pisa, Via Cosimo Ridolfi 10, 56124 Pisa, ItalyDepartment of Law, University of Genoa, Via Balbi 30/19, 16126 Genoa, ItalyDepartment of Economics and Law, University of Macerata, Via Crescimbeni 20, 62100 Macerata, ItalyDepartment of Economics and Law, University of Macerata, Via Crescimbeni 20, 62100 Macerata, ItalyThis paper tackles the issue of local and global analyses of a duopoly game with price competition and market share delegation. The dynamics of the economy is characterised by a differentiable two-dimensional discrete time system. The paper stresses the importance of complementarity between products as a source of synchronisation in the long term, in contrast to the case of their substitutability. This means that when products are complements, players may coordinate their behaviour even if initial conditions are different. In addition, there exist multiple attractors so that even starting with similar conditions may end up generating very different dynamic patterns.http://dx.doi.org/10.1155/2015/394810 |
| spellingShingle | Luciano Fanti Luca Gori Cristiana Mammana Elisabetta Michetti Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability Discrete Dynamics in Nature and Society |
| title | Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability |
| title_full | Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability |
| title_fullStr | Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability |
| title_full_unstemmed | Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability |
| title_short | Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability |
| title_sort | market share delegation in a bertrand duopoly synchronisation and multistability |
| url | http://dx.doi.org/10.1155/2015/394810 |
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