IDEAS home Printed from https://ideas.repec.org/a/hin/jnddns/380530.html
   My bibliography  Save this article

Stability, Bifurcation, and Chaos in N -Firm Nonlinear Cournot Games

Author

Listed:
  • Akio Matsumoto
  • Ferenc Szidarovszky

Abstract

An N -firm production game known as oligopoly will be examined with isoelastic price function and linear cost under al Cournot competition. After the best responses of the firms are determined, a dynamic system with adaptive expectations is introduced. It is first shown that the local asymptotic behavior of the system is identical with that of the adaptive adjustment process in which the firms cautiously determine their outputs. Dynamic analysis is confined to two special cases, one in which N is divided into two groups and the other in which N is divided into three groups. Then stability conditions will be derived and the global behavior of the equilibria will be illustrated including chaos control. Lastly the two- and three-group models are compared with two-firm (duopoly) and three-firm (triopoly) models to shed light on roles of the number of the firms.

Suggested Citation

  • Akio Matsumoto & Ferenc Szidarovszky, 2011. "Stability, Bifurcation, and Chaos in N -Firm Nonlinear Cournot Games," Discrete Dynamics in Nature and Society, Hindawi, vol. 2011, pages 1-22, February.
    • Handle: RePEc:hin:jnddns:380530
    DOI: 10.1155/2011/380530
    as

    Download full text from publisher

    File URL: http://downloads.hindawi.com/journals/DDNS/2011/380530.pdf
    Download Restriction: no
    File URL: http://downloads.hindawi.com/journals/DDNS/2011/380530.xml
    Download Restriction: no
    File URL: https://libkey.io/10.1155/2011/380530?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
    ---><---

    Citations

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


    Cited by:

    1. Cavalli, Fausto & Naimzada, Ahmad & Pireddu, Marina, 2015. "Heterogeneity and the (de)stabilizing role of rationality," Chaos, Solitons & Fractals, Elsevier, vol. 79(C), pages 226-244.
    2. Cavalli, Fausto & Naimzada, Ahmad, 2016. "Complex dynamics and multistability with increasing rationality in market games," Chaos, Solitons & Fractals, Elsevier, vol. 93(C), pages 151-161.

    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:hin:jnddns:380530. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .

    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.