IDEAS home Printed from https://ideas.repec.org/a/eee/chsofr/v42y2009i2p964-974.html
   My bibliography  Save this article

Complex dynamics analysis on fish stock harvested by two players with heterogeneous rationality

Author

Listed:
  • Gu, En-Guo

Abstract

This paper formulates a duopoly game model with heterogeneous expectations assuming that two players with asymmetric information harvest fish from a common fish ground and sell it in an imperfectly competitive market. We study the existence and stability of this system’s positive equilibrium characterizing the sustainable use of the renewable resource. Then show the complex dynamics of this system in different parameters though numerical simulation. We finally show the influence of the adjustment speed of the harvesting quantity on the set of initial conditions which give non-negative trajectories converging to an equilibrium (called as a feasible set). When the player accelerates the adjustment speed in order to achieve initial advantage, we discover that it leads to instability of system and makes the system sink into the chaotic state and thus makes the resources exhaust more easily.

Suggested Citation

  • Gu, En-Guo, 2009. "Complex dynamics analysis on fish stock harvested by two players with heterogeneous rationality," Chaos, Solitons & Fractals, Elsevier, vol. 42(2), pages 964-974.
    • Handle: RePEc:eee:chsofr:v:42:y:2009:i:2:p:964-974
    DOI: 10.1016/j.chaos.2009.02.030
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960077909000897
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.chaos.2009.02.030?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Gu, En-Guo, 2007. "Global analysis of an ecological populational model with an external interference," Chaos, Solitons & Fractals, Elsevier, vol. 32(1), pages 224-233.
    2. Gian-Italo Bischi & Michael Kopel & Ferenc Szidarovszky, 2005. "Expectation-Stock Dynamics in Multi-Agent Fisheries," Annals of Operations Research, Springer, vol. 137(1), pages 299-329, July.
    3. Agiza, H.N. & Hegazi, A.S. & Elsadany, A.A., 2002. "Complex dynamics and synchronization of a duopoly game with bounded rationality," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 58(2), pages 133-146.
    4. Bischi, Gian Italo & Lamantia, Fabio, 2007. "Harvesting dynamics in protected and unprotected areas," Journal of Economic Behavior & Organization, Elsevier, vol. 62(3), pages 348-370, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. S. S. Askar & A. Al-khedhairi, 2019. "Investigations of Nonlinear Triopoly Models with Different Mechanisms," Complexity, Hindawi, vol. 2019, pages 1-15, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ding, Zhanwen & Shi, Guiping, 2009. "Cooperation in a dynamical adjustment of duopoly game with incomplete information," Chaos, Solitons & Fractals, Elsevier, vol. 42(2), pages 989-993.
    2. Xin, Baogui & Ma, Junhai & Gao, Qin, 2009. "The complexity of an investment competition dynamical model with imperfect information in a security market," Chaos, Solitons & Fractals, Elsevier, vol. 42(4), pages 2425-2438.
    3. Chen, Jianxin & Zheng, Junhao & Zhang, Tonghua & Hou, Rui & Zhou, Yong-wu, 2022. "Dynamical complexity of pricing and green level for a dyadic supply chain with capital constraint," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 195(C), pages 1-21.
    4. Villena, Marcelo J. & Araneda, Axel A., 2017. "Dynamics and stability in retail competition," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 134(C), pages 37-53.
    5. Adam Krawiec & Tomasz Stachowiak & Marek Szydlowski, 2017. "The phase space structure of the oligopoly dynamical system by means of Darboux integrability," Papers 1708.02193, arXiv.org.
    6. N. Quérou & M. Tidball, 2014. "Consistent conjectures in a dynamic model of non-renewable resource management," Annals of Operations Research, Springer, vol. 220(1), pages 159-180, September.
    7. Xin, Baogui & Chen, Tong, 2011. "On a master-slave Bertrand game model," Economic Modelling, Elsevier, vol. 28(4), pages 1864-1870, July.
    8. Fanti, Luciano & Gori, Luca, 2012. "The dynamics of a differentiated duopoly with quantity competition," Economic Modelling, Elsevier, vol. 29(2), pages 421-427.
    9. Agiza, H.N. & Elsadany, A.A., 2003. "Nonlinear dynamics in the Cournot duopoly game with heterogeneous players," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 320(C), pages 512-524.
    10. Luciano Fanti & Luca Gori, 2013. "Stability Analysis in a Bertrand Duopoly with Different Product Quality and Heterogeneous Expectations," Journal of Industry, Competition and Trade, Springer, vol. 13(4), pages 481-501, December.
    11. Bischi, Gian Italo & Lamantia, Fabio, 2007. "Harvesting dynamics in protected and unprotected areas," Journal of Economic Behavior & Organization, Elsevier, vol. 62(3), pages 348-370, March.
    12. Yang, Luhe & Zhang, Lianzhong & Yang, Duoxing, 2022. "Asymmetric micro-dynamics in spatial anonymous public goods game," Applied Mathematics and Computation, Elsevier, vol. 415(C).
    13. Zhu, Xiaolong & Zhu, Weidong & Yu, Lei, 2014. "Analysis of a nonlinear mixed Cournot game with boundedly rational players," Chaos, Solitons & Fractals, Elsevier, vol. 59(C), pages 82-88.
    14. Elsadany, A.A., 2012. "Competition analysis of a triopoly game with bounded rationality," Chaos, Solitons & Fractals, Elsevier, vol. 45(11), pages 1343-1348.
    15. Jixiang Zhang & Chen Zhu, 2020. "Research on the Dynamic Pricing and Service Decisions in the Reverse Supply Chain considering Consumers’ Service Sensitivity," Sustainability, MDPI, vol. 12(22), pages 1-21, November.
    16. Kamalinejad, Howra & Majd, Vahid Johari & Kebriaei, Hamed & Rahimi-Kian, Ashkan, 2010. "Cournot games with linear regression expectations in oligopolistic markets," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 80(9), pages 1874-1885.
    17. Ueda, Masahiko, 2019. "Effect of information asymmetry in Cournot duopoly game with bounded rationality," Applied Mathematics and Computation, Elsevier, vol. 362(C), pages 1-1.
    18. Shi, Lian & Sheng, Zhaohan & Xu, Feng, 2015. "The dynamics of competition in remanufacturing: A stability analysis," Economic Modelling, Elsevier, vol. 50(C), pages 245-253.
    19. Yi, Qi Guo & Zeng, Xiang Jin, 2015. "Complex dynamics and chaos control of duopoly Bertrand model in Chinese air-conditioning market," Chaos, Solitons & Fractals, Elsevier, vol. 76(C), pages 231-237.
    20. Peng, Yu & Lu, Qian & Xiao, Yue & Wu, Xue, 2019. "Complex dynamics analysis for a remanufacturing duopoly model with nonlinear cost," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 514(C), pages 658-670.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:chsofr:v:42:y:2009:i:2:p:964-974. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thayer, Thomas R. (email available below). General contact details of provider: https://www.journals.elsevier.com/chaos-solitons-and-fractals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.