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Global Bifurcations In Duopoly When The Cournot Point Is Destabilized Via A Subcritical Neimark Bifurcation

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Author Info

  • ANNA AGLIARI

    ()
    (Dip. Scienze Economiche e Sociali, Catholic University, Via Emilia Parmense, 84. Piacenza I-29100, Italy)

  • LAURA GARDINI

    ()
    (Dip. Scienze Economiche, University of Urbino "Carlo Bo", Urbino I-61029, Italy)

  • TONU PUU

    ()
    (Dep. Economics University of Umea, Umea SE-90187, Sweden)

Abstract

An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which precede the Neimark bifurcation, and produce other attractors which coexist with the still attractive Cournot fixed point.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 08 (2006)
Issue (Month): 01 ()
Pages: 1-20

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Handle: RePEc:wsi:igtrxx:v:08:y:2006:i:01:p:1-20

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Related research

Keywords: Duopoly model; Subcritical Neimark bifurcation; Border collision bifurcation; Subject Classification: 37N40; Subject Classification: 70K; Subject Classification: 37G99;

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Cited by:
  1. Luciano Fanti & Luca Gori, 2011. "The dynamics of a differentiated duopoly with quantity competition," Discussion Papers 2011/121, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
  2. Fabio Lamantia, 2011. "A Nonlinear Duopoly with Efficient Production-Capacity Levels," Computational Economics, Society for Computational Economics, Society for Computational Economics, vol. 38(3), pages 295-309, October.
  3. Tramontana, Fabio, 2010. "Heterogeneous duopoly with isoelastic demand function," Economic Modelling, Elsevier, vol. 27(1), pages 350-357, January.
  4. Fanti, Luciano & Gori, Luca & Sodini, Mauro, 2012. "Nonlinear dynamics in a Cournot duopoly with relative profit delegation," MPRA Paper 37834, University Library of Munich, Germany.

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