کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1141071 | 956760 | 2009 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Bifurcation analysis of a dynamic duopoly model with heterogeneous costs and behavioural rules
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
سایر رشته های مهندسی
کنترل و سیستم های مهندسی
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چکیده انگلیسی
We develop a nonlinear dynamic Cournot duopoly model in discrete time, where two bounded rational quantity-setting firms, both endowed with naïve expectations, are heterogeneous as to their cost functions and output strategies. One of the two competing firms adopts best-reply behaviour, whereas the other adjusts its production according to the gradient of its profit. Although excessive reaction of the latter firm generally results in destabilization of the 'Cournot-Nash' equilibrium and brings about complex dynamic scenarios, this occurs via qualitatively different bifurcation routes, depending on the ratio between firms' marginal costs. The paper also provides a preliminary exploration of the long-run sustainability of the heterogeneous duopoly competition, by investigating numerically the impact of fixed costs on firms' survival, along different output trajectories.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Mathematics and Computers in Simulation - Volume 79, Issue 10, June 2009, Pages 3179-3196
Journal: Mathematics and Computers in Simulation - Volume 79, Issue 10, June 2009, Pages 3179-3196
نویسندگان
Natascia Angelini, Roberto Dieci, Franco Nardini,