Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
4633436 | Applied Mathematics and Computation | 2009 | 8 Pages |
Abstract
In this paper, we study a dynamical system of a two-team Cournot game played by a team consisting of two firms with bounded rationality and a team consisting of one firm with naive expectation. The equilibrium solutions and the conditions of their locally asymptotic stability are studied. It is demonstrated that, as some parameters in the model are varied, the stability of the equilibrium will get lost and many such complex behaviors as the period bifurcation, chaotic phenomenon, periodic windows, strange attractor and unpredictable trajectories will occur. The great influence of the model parameters on the speed of convergence to the equilibrium is also shown with numerical analysis.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Zhanwen Ding, Qinglan Hang, Lixin Tian,