Chaos and Control of Game Model Based on Heterogeneous Expectations in Electric Power Triopoly
A dynamic repeated game model has been established based on heterogeneous expectations in electric power triopoly. Theoretical analysis and numerical simulation show the complexity of this model; suppose that the producers make decisions with naive expectation and bounded rationality. The straight-l...
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| Format: | Article |
| Language: | English |
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Hindawi Limited
2009-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2009/469564 |
| Summary: | A dynamic repeated game model has been established based on heterogeneous expectations in electric power triopoly. Theoretical analysis and numerical simulation show the complexity of this model; suppose that the producers make decisions with naive expectation and bounded rationality. The straight-line stabilization chaos control method was successfully applied to the dynamic repeated game model. The results have important practical value for the producers in the electric power oligopoly. |
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| ISSN: | 1026-0226 1607-887X |