Complex Dynamics Analysis for a Cournot-Bertrand Mixed Game Model with Delayed Bounded Rationality
A Cournot-Bertrand mixed duopoly game model is constructed. The existence and local stable region of the Nash equilibria point are investigated. Complex dynamic properties such as bifurcation and route to chaos are analyzed using parameter basin plots. The strange attractors are also studied when t...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Hindawi Limited
2013-01-01
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| Series: | Abstract and Applied Analysis |
| Online Access: | http://dx.doi.org/10.1155/2013/251702 |
| Summary: | A Cournot-Bertrand mixed duopoly game model is constructed.
The existence and local stable region of the Nash equilibria point are
investigated. Complex dynamic properties such as bifurcation and route to
chaos are analyzed using parameter basin plots. The strange attractors are
also studied when the system is in chaotic states. Furthermore, considering
the memory of the market, a delayed Cournot-Bertrand mixed model
is considered and the results show that the delayed system has the same
Nash equilibrium and has a higher chance of reaching steady states or cycles
than the model without delay. So making full use of the historical data can
improve the system’s stability. |
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| ISSN: | 1085-3375 1687-0409 |