Complex Dynamics Analysis for a Bertrand Duopoly Model with Bounded Rationality

被引：2
|
作者：
Zhang Ji-xiang [1 ]
Zhou De-qun [1 ]
Wang Yan-hua [2 ]
机构：
[1] Nanjing Univ Aeronaut & Astronaut, Coll Econ & Management, Nanjing 210016, Peoples R China
[2] Nanjing Normal Univ, Coll Power Engn, Nanjing 210042, Peoples R China
来源：
2009 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING (16TH), VOLS I AND II, CONFERENCE PROCEEDINGS | 2009年
基金：
中国国家自然科学基金;
关键词：
discrete dynamical system; Bertrand duopoly model; heterogeneous expectations; Nash equilibrium; stability; COMPETITION;
D O I：
10.1109/ICMSE.2009.5317513
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
A dynamic of Bertrand duopoly game is analyzed, where players use different production methods and choose their prices with bounded rationality. The equilibriums of the corresponding discrete dynamical systems are investigated. The stability conditions of Nash equilibrium under a local adjustment process are studied. The stability conditions of Nash equilibrium under a local adjustment process are studied. The stability of Nash equilibrium, as some parameters of the model are varied, gives rise to complex dynamics such as cycles of higher order and chaos. On this basis, we discover that an increase of adjustment speed of bounded rational player can make Bertrand market sink into the chaotic state. Finally, the complex dynamics, bifurcations and chaos are displayed by numerical simulation.
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页码：190 / +
页数：3
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