Chaos Control on a Duopoly Game with Homogeneous Strategy
We study the dynamics of a nonlinear discrete-time duopoly game, where the players have homogenous knowledge on the market demand and decide their outputs based on adaptive expectation. The Nash equilibrium and its local stability are investigated. The numerical simulation results show that the mode...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2016-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2016/7418252 |
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| Summary: | We study the dynamics of a nonlinear discrete-time duopoly game, where the players have homogenous knowledge on the market demand and decide their outputs based on adaptive expectation. The Nash equilibrium and its local stability are investigated. The numerical simulation results show that the model may exhibit chaotic phenomena. Quasiperiodicity is also found by setting the parameters at specific values. The system can be stabilized to a stable state by using delayed feedback control method. The discussion of control strategy shows that the effect of both firms taking control method is better than that of single firm taking control method. |
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| ISSN: | 1026-0226 1607-887X |