A dynamic Cournot duopoly model with different strategies
- Resource Type
- Authors
- A.A. Elsadany
- Source
- Journal of the Egyptian Mathematical Society. (1):56-61
- Subject
- Equilibrium point
State variable
Mathematical optimization
Nash equilibrium point
Parameter variation method
Different strategies
Variation (game tree)
Lyapunov exponent
Cournot competition
Stability (probability)
Nonlinear Sciences::Chaotic Dynamics
symbols.namesake
Local approximation player
Boundedly rational player
symbols
Applied mathematics
Chaos
Bifurcation
Mathematics
- Language
- English
- ISSN
- 1110-256X
This paper analyzes the dynamics of a Cournot duopoly model with different strategies. We offer results on existence, stability and local bifurcations of the equilibrium points. The bifurcation diagrams and Lyapunov exponents of the model are presented to show that the model behaves chaotically with the variation in the parameters. The state variables feedback and parameter variation methods are used to control the chaos of the model.