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Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability

Author

Listed:
  • Luciano Fanti
  • Luca Gori
  • Cristiana Mammana
  • Elisabetta Michetti

Abstract

This paper tackles the issue of local and global analyses of a duopoly game with price competition and market share delegation. The dynamics of the economy is characterised by a differentiable two-dimensional discrete time system. The paper stresses the importance of complementarity between products as a source of synchronisation in the long term, in contrast to the case of their substitutability. This means that when products are complements, players may coordinate their behaviour even if initial conditions are different. In addition, there exist multiple attractors so that even starting with similar conditions may end up generating very different dynamic patterns.

Suggested Citation

  • Luciano Fanti & Luca Gori & Cristiana Mammana & Elisabetta Michetti, 2015. "Market Share Delegation in a Bertrand Duopoly: Synchronisation and Multistability," Discrete Dynamics in Nature and Society, Hindawi, vol. 2015, pages 1-13, March.
    • Handle: RePEc:hin:jnddns:394810
    DOI: 10.1155/2015/394810
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    Cited by:

    1. Liu, Yuxia & Zhou, Wei & Wang, Qian, 2022. "Global dynamics of an oligopoly competition model with isoelastic demand and strategic delegation," Chaos, Solitons & Fractals, Elsevier, vol. 161(C).
    2. Liu, Cui & He, Rui-chun & Zhou, Wei & Li, Hui, 2021. "Dynamic analysis of airline bidding game based on nonlinear cost," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 565(C).
    3. Li, Hui & He, Ruichun & Zhou, Wei, 2022. "Dynamic behaviors in a Cournot duopoly model with knowledge spillover effect based on constant conjectural variation," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 201(C), pages 305-323.
    4. Zhu, Yan-lan & Zhou, Wei & Chu, Tong, 2022. "Analysis of complex dynamical behavior in a mixed duopoly model with heterogeneous goods," Chaos, Solitons & Fractals, Elsevier, vol. 159(C).

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