Complex Dynamics in Nonlinear Triopoly Market with Different Expectations
A dynamic triopoly game characterized by firms with different expectations is modeled by three-dimensional nonlinear difference equations, where the market has quadratic inverse demand function and the firm possesses cubic total cost function. The local stability of Nash equilibrium is studied. Nume...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Wiley
2011-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2011/902014 |
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| _version_ | 1832562836013842432 |
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| author | Junhai Ma Xiaosong Pu |
| author_facet | Junhai Ma Xiaosong Pu |
| author_sort | Junhai Ma |
| collection | DOAJ |
| description | A dynamic triopoly game characterized by firms with different expectations is modeled by three-dimensional nonlinear difference equations, where the market has quadratic inverse demand function and the firm possesses cubic total cost function. The local stability of Nash equilibrium is studied. Numerical simulations are presented to show that the triopoly game model behaves chaotically with the variation of the parameters. We obtain the fractal dimension of the strange attractor, bifurcation diagrams, and Lyapunov exponents of the system. |
| format | Article |
| id | doaj-art-b878036936704b1081fea54200f06b51 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2011-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-b878036936704b1081fea54200f06b512025-02-03T01:21:39ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2011-01-01201110.1155/2011/902014902014Complex Dynamics in Nonlinear Triopoly Market with Different ExpectationsJunhai Ma0Xiaosong Pu1Group of Nonlinear Dynamics and Chaos, School of Management and Economics, Tianjin University, Tianjin 300072, ChinaGroup of Nonlinear Dynamics and Chaos, School of Management and Economics, Tianjin University, Tianjin 300072, ChinaA dynamic triopoly game characterized by firms with different expectations is modeled by three-dimensional nonlinear difference equations, where the market has quadratic inverse demand function and the firm possesses cubic total cost function. The local stability of Nash equilibrium is studied. Numerical simulations are presented to show that the triopoly game model behaves chaotically with the variation of the parameters. We obtain the fractal dimension of the strange attractor, bifurcation diagrams, and Lyapunov exponents of the system.http://dx.doi.org/10.1155/2011/902014 |
| spellingShingle | Junhai Ma Xiaosong Pu Complex Dynamics in Nonlinear Triopoly Market with Different Expectations Discrete Dynamics in Nature and Society |
| title | Complex Dynamics in Nonlinear Triopoly Market with Different Expectations |
| title_full | Complex Dynamics in Nonlinear Triopoly Market with Different Expectations |
| title_fullStr | Complex Dynamics in Nonlinear Triopoly Market with Different Expectations |
| title_full_unstemmed | Complex Dynamics in Nonlinear Triopoly Market with Different Expectations |
| title_short | Complex Dynamics in Nonlinear Triopoly Market with Different Expectations |
| title_sort | complex dynamics in nonlinear triopoly market with different expectations |
| url | http://dx.doi.org/10.1155/2011/902014 |
| work_keys_str_mv | AT junhaima complexdynamicsinnonlineartriopolymarketwithdifferentexpectations AT xiaosongpu complexdynamicsinnonlineartriopolymarketwithdifferentexpectations |