Complex Dynamics in Nonlinear Triopoly Market with Different Expectations

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: Junhai Ma, Xiaosong Pu
Format: Article
Language:English
Published: Hindawi Limited 2011-01-01
Series:Discrete Dynamics in Nature and Society
Online Access:http://dx.doi.org/10.1155/2011/902014
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spelling doaj-b878036936704b1081fea54200f06b512020-11-25T01:08:30ZengHindawi LimitedDiscrete 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
collection DOAJ
language English
format Article
sources DOAJ
author Junhai Ma
Xiaosong Pu
spellingShingle Junhai Ma
Xiaosong Pu
Complex Dynamics in Nonlinear Triopoly Market with Different Expectations
Discrete Dynamics in Nature and Society
author_facet Junhai Ma
Xiaosong Pu
author_sort Junhai Ma
title Complex Dynamics in Nonlinear Triopoly Market with Different Expectations
title_short 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_sort complex dynamics in nonlinear triopoly market with different expectations
publisher Hindawi Limited
series Discrete Dynamics in Nature and Society
issn 1026-0226
1607-887X
publishDate 2011-01-01
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.
url http://dx.doi.org/10.1155/2011/902014
work_keys_str_mv AT junhaima complexdynamicsinnonlineartriopolymarketwithdifferentexpectations
AT xiaosongpu complexdynamicsinnonlineartriopolymarketwithdifferentexpectations
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