Analysis and Control of the Complex Dynamics of a Multimarket Cournot Investment Game with Bounded Rationality
A dynamic multimarket Cournot model is introduced based on a specific inverse demand function. Puu’s incomplete information approach, as a realistic method, is used to contract the corresponding dynamical model under this function. Therefore, some stability analysis is carried out on the model to de...
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| Format: | Article |
| Language: | English |
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Hindawi Limited
2016-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2016/7342405 |
| Summary: | A dynamic multimarket Cournot model is introduced based on a specific inverse demand function. Puu’s incomplete information approach, as a realistic method, is used to contract the corresponding dynamical model under this function. Therefore, some stability analysis is carried out on the model to detect the stability and instability conditions of the system’s Nash equilibrium. Based on the analysis, some dynamic phenomena such as bifurcation and chaos are found. Numerical simulations are used to provide experimental evidence for the complicated behaviors of the system evolution. It is observed that the equilibrium of the system can lose stability via flip bifurcation or Neimark-Sacker bifurcation and time-delayed feedback control is used to stabilize the chaotic behaviors of the system. |
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| ISSN: | 1026-0226 1607-887X |